• Asking Price $2,375,000
  • Estimated Value: $1,417,298

  • 1223 N AVENUE 56 LOS ANGELES, CA 90042

  • 10 Beds 8 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: $409
  • Lot Size: 6299 sq. ft.
  • Total Units: 8
  • Total Rooms: 5
  • Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
  • Stories: 100
  • Roof Type: HIP
  • Construction Type: Wood

Facts

  • Year Built: 01/01/1950
  • Property ID: 893468053
  • MLS Number: 24-406869
  • Parcel Number: 5485-008-004
  • Property Type: Townhouse or Condo
  • County: LOS ANGELES
  • Legal Description: LEWIS TRACT # 2 LOT/SEC 3 BLK/DIV/TWN 3
  • Zoning: LAR1
  • 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. *** $100,000 price reduction and will feature a VACANT unit on 10/01/24 *** 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. 66% rental upside. At projected market rents, the property will stabilize at a 9.87% CAP and 7.90 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 with approx. 78% rental upside, located 1 mile away (144 S. Avenue 55). Please contact LA1 for more info.

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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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