5629 Monte Vista St - Apartments FOR SALE


Los Angeles, CA 90042- Highland Park
$2,120,000 USD
213-233-4379
5629 Monte Vista St, Los Angeles, CA for Sale
$2,120,000 USD
Apartments - FOR SALE
1/19
null | 5.65% Cap Rate

5629 Monte Vista St
Los Angeles, CA 90042
Highland Park


HIGHLIGHTS

  • Eric Dilanian & The Dilanian Real Estate Advisors are Pleased to Present a 43-Unit Highland Park Apartment Portfolio, Comprised of 3 Buildings!
  • Building 1 of 3: 5629 Monte Vista St | 12 Units in a Prime Location | 2 Blocks North of Figueroa | ADU Potential
  • Built in 1964 | ±9,599 Square Foot building | ±12,008 Square Feet of Land | Zoned RD1.5-1-HPOZ.
  • Excellent unit mix consisting of Five (2+2) units, Six (1+1) units, and a 3+2 unit with a private enclosed front yard
  • Offered for sale for the first time in nearly ± 40 years!
  • Walk Score of 95 (“Walker’s Paradise”): Steps to Gold Line and neighborhood favorites including Highland Park Bowl, Kitchen Mouse Café, HomeState

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: 5629 Monte Vista Street, a 12 Unit Mid-Century Building, is 1 of 3 Assets which is offered either individually or as part of the portfolio. Strategically located just two blocks North 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 a substantial ±9,599 Square Foot building situated on ±12,008 Square Feet of land, zoned RD1.5-1-HPOZ. The property offers an excellent unit mix consisting of five (2+2) units, six (1+1) units, and a spacious owner’s 3+2 unit with a private enclosed front yard. Offered for sale for the first time in nearly ± 40 years, the asset presents a compelling value-add opportunity with a strong basis and potential to further enhance returns through rental upside and multiple ADU additions. With a Walk Score of 95 (“Walker’s Paradise”), residents 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: 217 S AVENUE 54 | 90042 (17 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

$2,120,000 USD

PRICE/SF

$222 USD /SF

# OF UNITS

12

PRICE/UNIT

$176,667

CAP RATE

5.65%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12 Unit Highland Park | 2 Blocks North of Fig

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,008 SF

ZONING

LARD1.5

APN/PARCEL ID

5469-032-002

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.