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$3,825,000

Est. payment - /mo

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19 BD

16 BA

11,048 SqFt

Active

144 S Avenue 55 Los Angeles, CA 90042

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

09/30/2024 06:51 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,048 sqft

Price per Sqft $346

MLS Listing ID 24406843

Bedrooms 19

HOA Y/N No

Year Built 1961

Lot Size 0.365 Acres

Property Description

*** $125,000 price reduction **** 144 S. Avenue 55 is a well-maintained 16-unit courtyard-style property located 1 block south of Figueroa St, the commercial hub of Highland Park. Notable tenants of this lively hub include Highland Park Bowl, Go Get 'Em Tiger, Mendocino Farms, Highly Likely, Blind Barber and more. In addition, the property is approx. 2 miles from Occidental College, and could potentially be an off-campus student housing option. Built in 1961, this courtyard-style property features (3) 2-bdrm. units & (13) 1-bdrm. units. Please note, there is a VACANT 2-bdrm. unit. The property presents a substantial value-add opportunity with approx. 78% rental upside. At projected market rents, the property will stabilize at a 8.34% CAP and 9.01 GRM. 144 S. Avenue 55 can be purchased individually or in conjunction with a 10-unit property w/ approx. 60% rental upside, located 1 mile away (1223 N. Avenue 56). Please contact LA1 for more info.

Location

State CA

County Los Angeles

Area 632 - Highland Park

Zoning LARD1.5

Rooms

Ensuite Laundry Common Area, Laundry Room

Interior

Laundry Location Common Area,Laundry Room

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area, Laundry Room

Exterior

Garage Uncovered

Community Features Gated

View Y/N No

View None

Parking Type Uncovered

Total Parking Spaces 16

Building

Faces East

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5468014024

Security Features Gated Community

Special Listing Condition Standard

Listed by Kenny Stevens • Compass

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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