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Key Details
Sold Price $3,270,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 15,008 sqft
Price per Sqft $217
MLS Listing ID CL24420683
Sold Date 10/30/24
HOA Y/N No
Year Built 1965
Lot Size 0.344 Acres
Acres 0.34
Property Description
We are delighted to present a rare investment opportunity: a 16-unit mid-century complex located in one of Los Angeles' hottest neighborhoods Highland Park! Constructed in 1965, this offering consists of two adjacent buildings, each with eight townhome-style units. Each unit features 2 bedrooms and 1.5 bathrooms, with the entire property boasting approximately 15,008 SF of building space on a lot size of about 15,000 SF and on-site laundry facilities. Nestled in a residentially zoned community, the property offers abundant parking, which positions it well for strong market rental rates. For the astute investor, there is significant value-add potential with the possibility of adding up to four ADU units, with an estimated upside potential of approximately 89% (buyer to verify feasibility). The property is zoned RD1.5, with a completed soft-story retrofit and a Certificate of Compliance dated 04/23/2019. Strategically located in the vibrant epicenter of North East LA's Highland Park, tenants will enjoy proximity to the top retail corridors of York Blvd and Figueroa Street and easy access to South Pasadena and Pasadena. Disclosure: Buyers are advised to conduct all necessary due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking c
Location
State CA
County Los Angeles
Area Listing
Zoning LARD
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Community Facility
Building
New Construction No
Others
Tax ID 5493035017
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with EricDilanian