281 S Avenue 52 - Apartments FOR SALE


Los Angeles, CA 90042- Highland Park
$4,208,888 USD
213-595-5726
281 S Avenue 52, Los Angeles, CA for Sale
$4,208,888 USD
Apartments - FOR SALE
1/14
null | 5% Cap Rate

281 S Avenue 52
Los Angeles, CA 90042
Highland Park


HIGHLIGHTS

  • Highland Park 24-Unit Value-Add Opportunity
  • Excellent Unit Mix - 5 One Bedroom Units, 18 Two Bedroom Units, 1 Two Bedroom / Two Bath Unit
  • 26 On Site Parking Spaces Including Covered Carports
  • On Site Laundry Facility Providing Additional Income
  • 19,828 SF of Improvements on a 29,724 SF Lot
  • Soft Story Seismic Retrofit Completed

OVERVIEW

Seth Polen of Lacy Real Estate is pleased to present the opportunity to acquire a 24-unit apartment community located in the highly desirable Highland Park neighborhood of Los Angeles. Built in 1961, the property consists of approximately 19,828 square feet of improvements situated on a 29,724 square foot lot. The unit mix includes 5 one-bedroom / one-bath units, 18 two-bedroom / one-bath units, and 1 two-bedroom / two-bath unit, offering a strong configuration that supports long-term tenant demand. Residents benefit from the property’s proximity to Downtown Los Angeles via the 110 Freeway and convenient access to the Metro Gold Line, connecting Highland Park to South Pasadena, Pasadena, and DTLA. The property is also located near the vibrant Figueroa Street retail corridor, providing tenants with easy access to Highland Park’s popular restaurants, cafes, shops, and neighborhood amenities. Opportunities to acquire assets of this scale in Highland Park remain limited, as the neighborhood is largely built-out and new multifamily development remains constrained.

FOR SALE DETAILS

PRICE

$4,208,888 USD

PRICE/SF

$212 USD /SF

# OF UNITS

24

PRICE/UNIT

$175,370

CAP RATE

5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

LARD2

APN/PARCEL ID

5468-013-045

ASK ABOUT THIS PROPERTY

Seth PolenLacy Real EstateMore Info
213-595-5726

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Seth PolenLacy Real EstateMore Info
213-595-5726

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