337 S Avenue 60 - Apartments FOR SALE


Los Angeles, CA 90042- Highland Park
$4,300,000 USD
424-424-2608
337 S Avenue 60, Los Angeles, CA for Sale
$4,300,000 USD
Apartments - FOR SALE
1/20
null | 4.94% Cap Rate

337 S Avenue 60
Los Angeles, CA 90042
Highland Park


HIGHLIGHTS

  • This 100% occupied apartment community offers a pride-of-ownership asset with robust in-place cash flow and substantial additional growth potential.
  • Professionally managed and maintained, The Raven features excellent curb appeal, on-site covered parking, and community laundry facilities.
  • Updated units boast hardwood-style flooring, abundant natural light, stainless steel appliances, and upscale finishes.
  • Value-add investors benefit from the upside to increase rents through continued interior renovation/modernization to stabilize at a 7.11% cap rate.
  • Situated in a premier investment neighborhood of Northeast LA, with multifamily vacancies of just 5.4% and 5-year average annual rent growth of 1.2%.

OVERVIEW

Dover Management Corporation is pleased to present The Raven, a rare opportunity to acquire a stabilized 12-unit multifamily property in the vibrant and highly sought-after Highland Park neighborhood of Los Angeles at 337 S Avenue 60. Built in 1960 and thoughtfully maintained, The Raven presents investors a compelling mix of reliable in-place income and value-add potential through continued unit upgrades and strategic management. The Raven comprises 16,037 square feet across two stories with wood frame construction. It boasts well-maintained exteriors with excellent curb appeal, manicured landscaping, and a bright central courtyard with outdoor seating, a fire pit, and string lighting, creating a peaceful environment. The modern units’ interiors are defined by large windows, hardwood flooring, and new appliances, with contemporary fixtures and finishes. The unit mix includes eight one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units, catering to a broad renter base. Situated just moments from the eclectic energy of York Boulevard and the cultural fabric that defines Highland Park, The Raven benefits from strong tenant demand, walkable amenities, and excellent transit access. The easily accessible location is near multiple bus stops on Figueroa Street and has immediate proximity to the 110 Freeway, facilitating simplified commutes from Greater Los Angeles. The property also enables access to the bustling Figueroa Street and York Boulevard retail corridors, home to top-rated local restaurants alongside dozens of household name retail brands, including CVS, Food 4 Less, AutoZone, Starbucks, McDonald’s, Subway, and more. Dover Management Corporation is proud to bring this well-located and operated asset to the market. It is an ideal acquisition for investors seeking long-term growth, durable cash flow, and a presence in one of Northeast LA’s most resilient rental submarkets.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$268 USD /SF

# OF UNITS

12

PRICE/UNIT

$358,333

CAP RATE

4.94%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Raven

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,749 SF

ZONING

RD2, Los Angeles

APN/PARCEL ID

5492-021-013

ASK ABOUT THIS PROPERTY

John AldenDover Management CorporationMore Info
424-424-2608

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John AldenDover Management CorporationMore Info
424-424-2608

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