5055 Shearin Ave - Apartments FOR SALE


Los Angeles, CA 90041
$1,400,000 USD
213-233-4379
5055 Shearin Ave, Los Angeles, CA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/21
null | Request Cap Rate

5055 Shearin Ave
Los Angeles, CA 90041


HIGHLIGHTS

  • Eric Dilanian is pleased to present (2) Buildings with a Total of 16 Units in Supply Constrained Eagle Rock Market (Can be Sold Separately)
  • Unit Mix: Robust Unit Mix of (4) 2 Bed & 1 Bath, (2) 3 Bed & 2 Bath
  • Building and Lot Size: ± 6,474 SF on ± 6,716
  • Year Built & Zoning: 1968 | Zoned RD1.5
  • ADU: Immediate Opportunity to Add ADU(s)
  • Location: Hottest Location of North East LA - the Investment is Located in Eagle Rock!

OVERVIEW

Eric Dilanian and The Dilanian Real Estate Advisors of RE/MAX Commercial & Investment Realty are honored to present The Morreale Legacy Portfolio, located in the sought-after Eagle Rock neighborhood (90041). This exceptional investment opportunity features two buildings with a total of 16 units in a highly supply-constrained market. 2012 Yosemite Drive is a mid-century 10-unit building, while 5055 Shearin Avenue offers six mid-century units, both located within blocks of each other. This is the first time these properties, held by the developer’s family since their construction in 1968 and 1971, are available on the open market. The portfolio can be sold together or individually. 5055 Shearin Avenue features an outstanding unit mix of (4) 2 Bed & 1 Bath and (2) 3 Bed & 2 Bath Units, with a total rentable square footage of approximately ± 6,474. 2012 Yosemite Drive includes (9) 2 Bed & 1 Bath, and (1) 3 Bed & 2 Bath Unit, with a total rentable square footage of approximately 8,652. Combined, the buildings offer approximately ± 15,126 square feet of rentable space on a ± 16,477-square-foot lot, with ample parking. For astute investors, there’s significant value-add potential, including the possibility of adding ADUs and capitalizing on substantial upside opportunities (buyer to verify feasibility). The properties are zoned R1 and RD1.5, situated in a residentially zoned community offering above-market rental rates. Located in the vibrant core of Eagle Rock, the portfolio boasts walk scores of 80 and 88, indicating that most errands can be accomplished on foot. This prime location is near Occidental College, Glendale, Atwater Village, Highland Park, and Pasadena, ensuring enduring appeal to tenants Disclosure**Buyers are to conduct thorough and independent due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking availability, unit mix, year built, zoning, market rents, and the feasibility of ADUs or additional units. PLEASE DO NOT DISTURB TENANTS OR ENTER THE PROPERTY - DRIVE-BY ONLY

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$139 USD /SF

# OF UNITS

6

PRICE/UNIT

$233,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

16 Unit Eagle Rock Portfolio (10 U & 6 U)

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,716 SF

ZONING

LARD1.5

APN/PARCEL ID

5686-005-010

ASK ABOUT THIS PROPERTY

Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

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Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.