Magnolia Properties acquired 6243 Warwood, located in a quaint neighborhood of Lakewood, CA on June 23, 2024. As of December 2024, we have fully renovated the existing house, and it is now leased and generating stable rental income as we continue into the phase of Accessory Dwelling Unit (ADU) construction.

We have secured permits for two backyard ADUs, each designed as a 1,200 SF, three-bedroom, two-bath unit stacked on top of one another. Construction is well underway, with the foundation complete and framing currently in progress. We anticipate completing construction by June 2025. Once the ADUs are finished and leased, we will evaluate the opportunity to either sell the property or refinance and hold it for ongoing cash flow.