Magnolia Properties acquired 5103 Barlin, located in a quaint Lakewood, CA neighborhood, on August 16, 2024. We are currently in the process of fully renovating the house, stripping it down to the studs and redesigning it from the ground up to enhance its appeal. As of December 2024, we have secured the permits for two backyard Accessory Dwelling Units (ADUs), each designed as a 1,200 SF, three-bedroom, two-bath unit stacked on top of one another. We anticipate completing construction by August 2025.

Our plan is to lease the front house first, followed by renting out the ADUs once construction is complete. At that point, we will either sell the property or refinance and hold it for ongoing cash flow.