217 S Avenue 54 - Apartments FOR SALE


Los Angeles, CA 90042- Highland Park
$3,000,000 USD
213-233-4379
217 S Avenue 54, Los Angeles, CA for Sale
$3,000,000 USD
Apartments - FOR SALE
1/18
null | 5.14% Cap Rate

217 S Avenue 54
Los Angeles, CA 90042
Highland Park


HIGHLIGHTS

  • Eric Dilanian and The Dilanian Real Estate Advisors are Pleased to Present this 43-Unit Highland Park Apartment Portfolio, Comprised of 3 Buildings!
  • Building 2 of 3: 217 S Avenue 54 | 17 Units in a Prime Location | 1 Block South of Famous Figueroa | Attached ADU Potential
  • Built in 1964 | 13,223 Square Foot Building | ±15,316 Square Feet of Land | Zoned RD2-1
  • Excellent Unit Mix Consisting of Nine (2+1) units, Seven (1+1) units, and One (0+1) unit
  • Offered for sale for the first time in ± 17 years
  • Walk Score of 88 (“Very Walkable”): Steps to Gold Line and neighborhood favorites including Highland Park Bowl, Kitchen Mouse Café, HomeState, Civil

OVERVIEW

Eric Dilanian with The Dilanian Real Estate Advisors, as part of RE/MAX Commercial & Investment Realty, is proud to present an extremely rare 43-Unit Portfolio opportunity in Highland Park – one of LA’s hottest and sought after sub-markets: 217 S Avenue 54, a 17 Unit Mid-Century Building, is 1 of 3 Assets which is offered either individually or as part of the portfolio. Strategically located just one block from Figueroa Street and at the epicenter of Highland Park’s most vibrant retail and dining corridor, the property was built in 1964 and features ±13,223 Square Foot building situated on ±15,316 Square Feet of land, zoned RD2-1. The property boasts an excellent unit mix consisting of nine (2+1) units, seven (1+1) units, and one (0+1) unit. Offered for sale for the first time in ± 17 years, the asset presents a value-add opportunity with a compelling basis and potential to further enhance returns through rental upside and multiple ADU additions. With a Walk Score of 88 (“Very Walkable”), residents can accomplish most errands on foot and enjoy immediate access to the Gold Line and neighborhood favorites including Highland Park Bowl, Kitchen Mouse Café, HomeState, Civil Coffee, The Arroyo Club, Mendocino Farm, Villas Tacos, and Jeni’s Ice Cream. ASSET 2 OF 3: 5629 MONTE VISTA ST | 90042 (12 UNITS) – See Listing Details ASSET 3 OF 3: 820 CHESTNUT AVE | 90042 (14 UNITS) – See Listing Details **DISCLOSURE:** Buyers are advised to conduct independent thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly. **DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY **

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$227 USD /SF

# OF UNITS

17

PRICE/UNIT

$176,471

CAP RATE

5.14%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

17 Units in Highland Park | 1 Block S of Fig

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,316 SF

ZONING

RD2

APN/PARCEL ID

5468-013-039

ASK ABOUT THIS PROPERTY

Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

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Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.