162 S Avenue 55

    Los Angeles (City), CA 90042
    • $11,400,000
    • STATUS: Active
    • ON SITE: 66 days
    • ID#: 20548856
    UPDATED: 75 min ago
    $11,400,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    162 South Avenue 55, in Los Angeles, CA 90042. Built in 1963 and renovated in 2019, this 30-unit turnkey property totals 24,864 SF in the heart of Highland Park just east of North Figueroa Street. Surrounded by contemporary landmarks and dining destinations on the Figueroa Street corridor, the subject property is a community that offers residents all that Highland Park has to offer.This offering presents an investor the opportunity to purchase a turnkey, stabilized asset with meticulous renovations and spacious units. At the asking price, the GRM on current income is 14.08 with a 4.63% CAP rate. Large units of approximately 748 SF for one-bedrooms and over 1,000 SF for the two-bedrooms as well as renovations in excess of $1 MM that include new flooring, stainless steel appliances, quartz countertops, high-end cabinetry, modern light fixtures, meticulous tile bathrooms and air conditioning and heat in every unit will allow an investor to achieve pro forma rents with minimal improvemen

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-05T12:27:16.713. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

    www.teamforss.com/homes/102749945

    162 S Avenue 55 Los Angeles (City), CA 90042

    • Price: $11,400,000
    • Status: Active
    • Updated: 75 min ago
    • ID#: 20548856
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1963
    Built
    Neighborhood:
    632 - Highland Park
    County:
    Los Angeles
    Area:
    632 - Highland Park
    Property Description
    162 South Avenue 55, in Los Angeles, CA 90042. Built in 1963 and renovated in 2019, this 30-unit turnkey property totals 24,864 SF in the heart of Highland Park just east of North Figueroa Street. Surrounded by contemporary landmarks and dining destinations on the Figueroa Street corridor, the subject property is a community that offers residents all that Highland Park has to offer.This offering presents an investor the opportunity to purchase a turnkey, stabilized asset with meticulous renovations and spacious units. At the asking price, the GRM on current income is 14.08 with a 4.63% CAP rate. Large units of approximately 748 SF for one-bedrooms and over 1,000 SF for the two-bedrooms as well as renovations in excess of $1 MM that include new flooring, stainless steel appliances, quartz countertops, high-end cabinetry, modern light fixtures, meticulous tile bathrooms and air conditioning and heat in every unit will allow an investor to achieve pro forma rents with minimal improvemen
    Exterior Features

    Lot Size Source Assessor Parking Features Covered Parking YN Yes

    Property Features

    Additional Parcels YN No Gross Income 67487.00 Gross Multiplier 14.08 Gross Operating Income 785554.00 Net Operating Income 527538.00 Senior Community YN No Special Listing Conditions Standard Taxes Percent 1.17 Vacancy Allowance Rate 0.00 Zoning Rd1.5-1-Hpoz

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-05T12:27:16.713. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

     
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