• Asking Price $2,475,000
  • Estimated Value: $1,063,923

  • 1223 N AVENUE 56 LOS ANGELES, CA 90042

  • 10 Beds 2 Baths 5,794 SqFt
  • Townhouse or Condo / Resale (MLS)
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Property Details for 1223 N AVENUE 56, LOS ANGELES, CA 90042

Features

  • Price/sqft: $427
  • Lot Size: 6300
  • Total Units: 2
  • Total Rooms: 5
  • Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
  • Construction Type: Wood

Facts

  • Year Built: 01/01/1950
  • Property ID: 893468053
  • MLS Number: 24-406869
  • Parcel Number: 5485-008-005
  • Property Type: Townhouse or Condo
  • County: LOS ANGELES
  • Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. 1223 N. Avenue 56 is a 10-unit value-add property, on a 12,603 SF lot, located 1 block north or York Blvd, the artistic hub of Highland Park. Notable tenants of this lively hub include Kumquat Coffee, Block Party, The York, Joy, Collage Coffee & more. In addition, the property is located 1.5 miles from Occidental College, and could serve as a great off-campus student housing option. 1223 N. Ave. 56 presents a substantial value-add opportunity with approx. 63% rental upside. At projected market rents, the property will stabilize at a 8.07% CAP and 9.35 GRM. Built in 1950 & 1953, this property features (10) 1-bdrm. units spread across (3) 2-story buildings. The 12,603 SF lot features 2 APNs. Property amenities include automatic gated entry and approx. 9 surface tandem parking spaces. 1223 N. Ave. 56 can be purchased individually or in conjunction with a 16-unit property, located 1 mile away (144 S. Avenue 55). Please contact Kenny Stevens for more info - Kenny@KennyStevensTeam.com

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Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


All information provided is deemed reliable, but is not guaranteed and should be independently verified.

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