1223 N Avenue 56, Los Angeles, CA 90042
-
Listed Price :
$2,375,000
-
Beds :
10
-
Baths :
10
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Property Size :
5,794 sqft
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Year Built :
1950
Property Description
*** $100,000 price reduction and will feature a VACANT unit on 10/01/24 *** 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. 66% rental upside. At projected market rents, the property will stabilize at a 9.87% CAP and 7.90 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 with approx. 78% rental upside, located 1 mile away (144 S. Avenue 55). Please contact LA1 for more info.
Interior Features
| Laundry Information |
| Location(s) |
Common Area |
| Bedroom Information |
| Bedrooms |
10 |
| Bathroom Information |
| Bathrooms |
10 |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
1223 N Avenue 56 |
| City |
Los Angeles |
| State |
CA |
| Zip |
90042 |
| County |
Los Angeles |
| Listing Agent |
Kenny Stevens DRE #01090251 |
| Courtesy Of |
Compass |
| List Price |
$2,375,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
5,794 |
| Lot Size |
12,603 |
| Year Built |
1950 |
Listing information courtesy of: Kenny Stevens, Compass. *Based on information from the Association of REALTORS/Multiple Listing as of Aug 8th, 2024 at 7:04 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
