Active
1223 N Avenue 56
Los Angeles CA, 90042
$2,375,000
$409.91 per sqft
Active
10 Beds
10 Baths
5,794 sqft
Residential
Built in 1950
Listed by Kenny Stevens with Compass 310-968-7005
*** $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.
24406869
MLSⓇ ID
June 21, 2024
Listed
August 30, 2024
Updated
Map
1223 N Avenue 56
Los Angeles CA, 90042
Interior Features
Total Stories
2
Bedrooms
10
Total Bathrooms
10
Laundry Description
Common Area
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
No
Exterior/Building Features
Lot Size
0.29 Acres
Other Property Details
Area Name
632 - Highland Park
Days on Market
48
Garage
Yes
Parking
Garage, Tandem, Uncovered
Parking Total
9
View
No
View Description
None
County
Los Angeles
Pool
No
Zoning
LARD1.5
Listing History
Date | Event | Price |
|---|---|---|
8/8/2024 | Price change | $2,375,000 -5% |
Listing Contact: 310-230-5478
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/30/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 8/30/2024 at 7:09 PM UTC