2022-2024 Development Projects

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Hollywood,  CA 90068

Located in the Hollywood Dell area, this home features 3,502 sqft. Originally built in 1979 with few upgrades over the years, Mager Capital was able to purchase this asset for $1.69M. We are converting this into the quintessential modern bachelor pad with a separately accessible unit that can be used as a music studio or for another business purpose. Technology, black stainless, and glass are our main focus within this project in order to benefit from the million-dollar view. The timing of this project is impeccable, with almost no inventory on the market, we expect a bidding war! With an excellent team, we have been able to rehab this property far below the industry norm CapEx cost.

Coldwater Canyon, Beverly Hills, CA 90210

Located in Beverly Hills post office, this home features a legal 2,274 sqft. with an additional 400 sqft of unpermitted additions that are in the process of being permitted. We will increase the sqft to 4,100 and list the property for sale. Originally built in 1954 with some upgrades over the years, Mager Capital was able to purchase this asset for $1.5M ($150K below market) and we will come back to market around $3.8M.  This property will feature a Japanese-style spa with a Zen garden to include a pool & jacuzzi, complemented by a sauna and Japanese bridge that connects the amenities.

Sunset Blvd, Bel Air, CA 90049

Located in Bel Air on the iconic Sunset Blvd.  This home boasts 5,065 sqft. with 5/Br & 5/Ba. Originally built in 1941 with dated upgrades over the years, we were able to purchase this asset for $2.5M @ 50% of upgraded market value. We are currently in the process of a complete makeover and will re-list this property for around $5M. The property was sold for $3.7M as-is and boarded up, which was a profitable victory for everyone involved. 

Avon Street, Los Angeles, CA 90026

Located in the eclectic art district of Echo Park, this duplex is currently in process of an ADU addition, which we will then convert into a 5+ ADU- Multi-Family asset, taking advantage of the new California ADU benefits. Our end game is to hold onto this property for the high rental income the area achieves.  We started with a $1.1M value on 2-Units and will achieve a $4.5M+ income valuation upon completion.  This section of Echo Park commands $3.5 to $4.3 PSF as a rental and is in high demand, without the need for high-end finishes. This is a long-term, rental-income asset that we will keep in our portfolio.

Agoura Road, Westlake Village, CA 91361

Westlake Village speaks for itself. We executed this purchase all cash within a week due to the limited availability of these condo units. The rental market is extremely hot in Westlake and the lower price point properties rarely come to market so we jumped on the opportunity. Understanding that sub $750K properties were going to increase in value due to demand, we made the purchase without contingencies.

In escrow to purchase this 2,500 sqft SFR + ADU, and an additional flat lot that will make this a home run! The previous owners spent a considerable amount on the backyard oasis, and the interior of the home was remodeled in 2022. We will subdivide the property, develop the land, and sell the new-build to pay off the purchase money debt.  This private estate is a hidden gem with great upside and above average equity appreciation. We agreed on the attractive purchase price of $1.4M, including the second parcel. This is a rare find and a quintessential example of why we are in this business.

We are buying every Ohio property that we can find within a specific geographical area. Our goal is 100 properties in 18 months. Ohio is one of the hottest 2024 markets in the country with continued record-breaking sales.  California's expensive real estate continues to make it cost-prohibitive to realize a positive cash flow from day 1, like Ohio. The low acquisition price Vs. the high rental income makes Ohio real estate very attractive for our income portfolio. The summer months of Ohio Air BnB rental income are not normal for the low price point of the real estate value, which makes Ohio an incredible return on investment. Where else can one buy a property for $60,000 and invest only $15,000 into the rehab, to realize $1,800 a month of net income as a winter rental? Then you take into account the short-term summer rental income @ $500 a night, and the revenue stream starts to get very disproportionate from the cost basis.  Buy 100 of these little assets and we have a solid revenue stream + the additional appreciation of the real estate.