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    162 S Avenue 55

    Los Angeles, CA 90042
    • $11,350,000
    • STATUS: Active
    • ON SITE: 41 days
    • ID#: 20-618102
    UPDATED: 114 min ago
    $11,350,000
    • 39
      BEDS
    • 0.56
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 24,864
      SQFT
    • $456
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    30-unit investment opportunity in prime Highland Park, one of the most desirable and rapidly developing submarkets of Los Angeles. 26 out of the 30 units have been extensively renovated and redesigned with new open-concept layouts and high-end finishes including new stainless-steel appliances, solid stone countertops, hardwood flooring throughout, new kitchen cabinets and backsplashes, beautiful bathrooms with new sinks and vanities, frosted glass front doors, spacious closets, new fixtures, matte black designer finishes, and new HVAC units. The electrical systems have been upgraded and rewired and 23 out of the 30 units are equipped with new, in-unit stackable washer and dryers. 4 units haven't been renovated, leaving room for an investor to capitalize on the remaining rental upside. The Property has secured entry and features beautiful exterior renovations and common area amenities including a lounge area, BBQ, and firepit. The seismic retrofit work has also been completed.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T23:42:31.58. 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.
    www.lydiagable.com/homes/108874042
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    162 S Avenue 55 Los Angeles, CA 90042

    • Price: $11,350,000
    • Status: Active
    • Updated: 114 min ago
    • ID#: 20-618102
    39
    Beds
    0
    Baths
    0
    ½ Baths
    0.56
    Acres
    24,864
    SQFT
    $456
    $/SQFT
    1963
    Built
    Neighborhood:
    Highland Park
    County:
    Los Angeles
    Area:
    Highland Park
    Property Description
    30-unit investment opportunity in prime Highland Park, one of the most desirable and rapidly developing submarkets of Los Angeles. 26 out of the 30 units have been extensively renovated and redesigned with new open-concept layouts and high-end finishes including new stainless-steel appliances, solid stone countertops, hardwood flooring throughout, new kitchen cabinets and backsplashes, beautiful bathrooms with new sinks and vanities, frosted glass front doors, spacious closets, new fixtures, matte black designer finishes, and new HVAC units. The electrical systems have been upgraded and rewired and 23 out of the 30 units are equipped with new, in-unit stackable washer and dryers. 4 units haven't been renovated, leaving room for an investor to capitalize on the remaining rental upside. The Property has secured entry and features beautiful exterior renovations and common area amenities including a lounge area, BBQ, and firepit. The seismic retrofit work has also been completed.
    Exterior Features

    Levels Two Lot Size Area 24507 Other Structures None Parking Garage Assigned Total Parking 33

    Interior Features

    Baths Total 39.00 Cooling Air ConditioningCeiling Fan Equipment Ceiling FanDishwasherDryerBarbequeGarbage DisposalFreezerWasherRefrigeratorRange/Oven Heating Wall Laundry In Unit

    Property Features

    Assessed Total Value 3168734 Gross Income 783759 Gross Operating Income 760246 Like Units1 21 Like Units2 2 Like Units3 7 Net Operating Income 521244.00 Number Of Buildings 1 Number Of Units 30 Owner Pays Water Sale Type Standard Security Features Gated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays ElectricityGas Total Annual Expense 239002 Type Of Units Multifamily Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard1.5

    Listing provided courtesy of Janet Neman DRE#01069127 of Kidder Mathews Of California, Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T23:42:31.58. 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.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377