281 S Avenue 52 - Apartments FOR SALE


Los Angeles, CA 90042- Highland Park
$4,528,888 USD
281 S Avenue 52, Los Angeles, CA for Sale
$4,528,888 USD
Apartments - FOR SALE
1/8
null | 4.54% Cap Rate

281 S Avenue 52
Los Angeles, CA 90042
Highland Park


HIGHLIGHTS

  • Excellent Neighborhood Offering (Highland Park)
  • Los Angeles Zoned LARD2; Large 29,751 SF Lot (.68AC); Potential opportunity to add ADUs
  • Unit Mix Comprised of Mostly 2-Bedroom Units; 26 parking spaces on property.
  • 2022 sub-panels updated; Soft Story Retrofit Has Been Completed.
  • Potential Financing Tri Counties Bank (Max LTV 70%) contact agent for details
  • Conveniently Located Close to Metro Gold Line and 110 Freeway

OVERVIEW

Lacy Real Estate is delighted to present a charming 24-unit apartment building in the red-hot Los Angeles neighborhood of Highland Park. Built in 1961, this 19,828 improvement is situated on a large 29,751 SF lot. The unit mix is comprised of 5 (1 Bed/1 Bath) Units, 18 (2 Bed/1 Bath) Units, and 1 (2Bed/2 Bath) Units. There are 26 parking spaces on property. Tenants benefit from the property’s close proximity to Downtown LA’s major employers by way of the 110 freeway. Alternatively, the property is within a short distance to the Metro Gold line, immediately connecting the passengers to neighboring South Pasadena, Pasadena, and DTLA.

FOR SALE DETAILS

PRICE

$4,528,888 USD

PRICE/SF

$228 USD /SF

# OF UNITS

24

PRICE/UNIT

$188,704

CAP RATE

4.54%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

LARD2

APN/PARCEL ID

5468-013-045

ASK ABOUT THIS PROPERTY

Seth PolenLacy Real EstateMore Info

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