Overview
- Residential Income
- 10
- 10
- 5794.00
- 1950
Description
1223 N. Avenue 56 is a 10-unit value-add property, on a 12,603 SF lot, located 1 block north or York Blvd, the artistic hub of Highland Park. Notable tenants of this lively hub include Kumquat Coffee, Block Party, The York, Joy, Collage Coffee & more. In addition, the property is located 1.5 miles from Occidental College, and could serve as a great off-campus student housing option. 1223 N. Ave. 56 presents a substantial value-add opportunity with approx. 63% rental upside. At projected market rents, the property will stabilize at a 8.07% CAP and 9.35 GRM. Built in 1950 & 1953, this property features (10) 1-bdrm. units spread across (3) 2-story buildings. The 12,603 SF lot features 2 APNs. Property amenities include automatic gated entry and approx. 9 surface tandem parking spaces. 1223 N. Ave. 56 can be purchased individually or in conjunction with a 16-unit property, located 1 mile away (144 S. Avenue 55). Please contact LA1 for more info.
Address
Open on Google Maps- Address 1223 N Avenue 56
- City Los Angeles
- State/county CA
- Zip/Postal Code 90042
- Area 632 - Highland Park
- Country United States
Details
Updated on June 27, 2024 at 8:39 am- Property ID: SGR-33108664
- Price: $2,475,000
- Property Size: 5794.00 m²
- Land Area: 12603.00 m²
- Bedrooms: 10
- Bathrooms: 10
- Year Built: 1950
- Property Type: Residential Income
- Property Status: For Sale
- Living Area: 5794.00
- MLS#: 24406869
- Office Name: COMPASS
- Agent Name: Kenny Stevens
- MLS Status: Active
- Living Area Prefix: Sqft
- Agent State License: 01090251
Additional details
- View: None
- Cooling: Wall/Window Unit(s)
- County: Los Angeles
- Parking: 9.00
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