820 Chestnut Ave - Apartments FOR SALE


Los Angeles, CA 90042- Highland Park
$2,495,000 USD
213-233-4379
820 Chestnut Ave, Los Angeles, CA for Sale
$2,495,000 USD
Apartments - FOR SALE
1/19
null | 5.77% Cap Rate

820 Chestnut Ave
Los Angeles, CA 90042
Highland Park


HIGHLIGHTS

  • Eric Dilanian and The Dilanian Real Estate Advisors are Pleased to Present a 43-Unit Highland Park Apartment Portfolio, Comprised of 3 Buildings!
  • Building 3 of 3: 820 Chestnut Ave | 14 Units | Large Lot Poised for ADU's
  • Built in 1959 | ±10,492 Square Foot Building | Large ±15,933 Square Foot Lot Feet | Zoned RD1.5-1
  • The property offers an excellent unit mix consisting of Eight (1+1) units, Three (2+1) units, Two (2+2), and 1 (0+1)
  • Offered for sale for the first time in ± 17 years!
  • Ideally located in a quiet and quaint neighborhood, tenants will enjoy close proximity to LA’s top retail corridors of York Blvd and Figueroa Street

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: 820 Chestnut Ave, a 14 Unit Mid-Century Building, is 1 of 3 Assets which is offered either individually or as a portfolio. The property was built in 1959 and features a ±10,492 Square Foot building situated on large ±15,933 Square Foot Lot Feet, zoned RD1.5-1. The property offers an excellent unit mix consisting of eight (1+1) units, three (2+1) units, two (2+2), and 1 (0+1). Offered for sale for the first time in ± 17 years, the asset presents an excellent value-add opportunity with a compelling basis and potential to further enhance returns through rental upside and multiple ADU additions. Ideally located in a quiet and quaint neighborhood, tenants will enjoy close proximity to LA’s top retail corridors of York Blvd and Figueroa Street and easy access to South Pasadena and Pasadena. ASSET 2 OF 3: 5629 MONTE VISTA ST | 90042 (12 UNITS) – See Listing Details ASSET 3 OF 3: 217 S AVENEU 54 | 90042 (17 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

$2,495,000 USD

PRICE/SF

$238 USD /SF

# OF UNITS

14

PRICE/UNIT

$178,214

CAP RATE

5.77%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Units Highland Park | Large Lot for ADUs

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

15,933 SF

ZONING

RD1.5-1

APN/PARCEL ID

5493-037-002

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.