281 S Avenue 52 - Apartments FOR SALE


Los Angeles, CA 90042- Highland Park
$4,088,888 USD
213-595-5726
281 S Avenue 52, Los Angeles, CA for Sale
$4,088,888 USD
Apartments - FOR SALE
1/16
null | 5.22% 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 a rare 24-unit multifamily investment opportunity in the heart of Highland Park. Situated on an expansive ±29,724 SF lot (±0.68 AC), the property offers investors a compelling combination of scale, long-term upside, and existing infrastructure improvements in one of Northeast Los Angeles’ strongest rental submarkets. Built in 1961, the property consists of approximately 19,828 SF across four buildings with an attractive unit mix of 18 two-bedroom / one-bath units, 5 one-bedroom / one-bath units, and 1 two-bedroom / two-bath unit. The predominately two-bedroom configuration continues to support strong tenant demand and long-term rental growth fundamentals. The asset presents a significant value-add opportunity through continued rental repositioning, operational improvements, and potential future ADU opportunities. Major ownership improvements include completed seismic retrofit work, updated electrical sub-panels, pool perimeter fencing, and roof coating improvements. Located near the 110 Freeway, Metro A (Gold) Line, York Boulevard, and the Figueroa retail corridor, the property benefits from immediate access to Highland Park’s evolving restaurant, retail, and lifestyle amenities while maintaining strong connectivity to Downtown Los Angeles, Pasadena, and surrounding Northeast LA neighborhoods. Opportunities to acquire a 24-unit asset on nearly 0.68 acres in Highland Park remain exceptionally limited.

FOR SALE DETAILS

PRICE

$4,088,888 USD

PRICE/SF

$206 USD /SF

# OF UNITS

24

PRICE/UNIT

$170,370

CAP RATE

5.22%

% 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.