On April 23, 2024, Magnolia Properties acquired 2130 Drescher St, a four-unit multifamily property located just 0.6 miles from the University of San Diego. Magnolia is currently renovating the existing four units while securing permits to construct 18 additional units in a new 3-story building, replacing an expansive front yard that occupies most of the site. This project will be completed through a permits-only process, leveraging the site’s existing zoning along with state and local Accessory Dwelling Unit laws.

The new development will comprise 15,250 SF of living space, with each unit featuring a designated parking space and private balconies. By incorporating modern design elements and high-quality finishes, the project aims to significantly enhance the property’s value and appeal, making it an attractive option for renters in this desirable area.