Description: 36 residential units

Type: Ground-up

Role: Partner/Developer

Location: 1238-1248 Magnolia Ave. Los Angeles, CA 90006 

Estimated Completion: Fall 2021

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Raakel Real Estate was retained to assist in the development of a 36-unit building located in the Pico-Union neighborhood of Los Angeles. Raakel Real Estate is overseeing the due diligence, selection and retention of design professionals, entitlements, design coordination, syndication, utility coordination, selection and retention of a general contractor, construction, and lease-up. Both 1200 Magnolia Ave and 1238-48 Magnolia Ave. are being developed simultaneously. This project is located in a Qualified Opportunity Zone and is being financed using a qualified Opportunity Zone fund. For more information regarding Opportunity Zones and their benefits, please contact us. 

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