144 S Avenue 55 Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90042
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,048 sqft
Price per Sqft $335
MLS Listing ID 24406843
Bedrooms 19
Year Built 1961
Lot Size 0.365 Acres
Property Description
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 10.21% CAP and 7.66 GRM. 144 S. Avenue 55 can be purchased individually or in conjunction with a 10-unit property with approx. 66% 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
Interior
Cooling Wall/Window Unit(s)
Laundry Common Area,Laundry Room
Exterior
Garage Uncovered
Community Features Gated
View Y/N No
View None
Building
Story 2
New Construction No
Others
Special Listing Condition Standard