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Listed by Han Chen • Growth Investment Group Pasade
$ 3,850,000
Est. payment | /mo
11,984 SqFt
$ 3,850,000
Est. payment | /mo
11,984 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,984 sqft
Price per Sqft $321
MLS Listing ID CRAR25026935
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1965
Lot Size 0.401 Acres
Property Sub-Type Other
Property Description
9.48% Proforma CAP Rate in an excellent area with 31% vacancies! A beautifully located prime 16-unit Value-Add apartment in the desirable Mount Washington neighborhood of Los Angeles. This well-maintained property is located right off Figueroa St and at the border of Highland Park and South Pasadena. It is surrounded by mature residential neighborhoods and within walking distance of many attractions in Mount Washington area (Lumis House, Southwest Museum, and Metro Gold Line Heritage Square Station). This property is in a mature area and surrounded by single family homes. It has excellent demographics with ±$122,496 average household income within a-mile radius The property is a two-story garden style apartment. It offers excellent curb appeal and is very well maintained with a serene center courtyard. It was built in 1965, has a total of ±11,984sqft building size, and situated on a large ±17,441SF lot. The property has a new roof that was installed in 2021 and several front windows have been upgraded with dual pane windows. The foundation has been bolted and seismic retrofit of the property was completed in 2015. It offers an excellent unit mix of eight (8) large 2bedroom+1bathroom, and eight (8) large 1bedroom+1bathroom units. Five units are currently vacant and can be deliv
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Vinyl
Fireplace No
Laundry Community Facility, Other
Exterior
View Other
Building
Lot Description Other
Water Public
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Ray Marquez
Broker-Associate | Lic# CA DRE#01800314 AZ# BR70577800