$3,825,000
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144 Avenue 55 Los Angeles, CA 90042
Cluster
Residence
19
Beds
16
Baths
...
Bed/Bath
11,048
Sq. Ft.
Property Activity
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*** $125,000 price reduction **** 144 S. Avenue 55 is a well-maintained 16-unit courtyard-style property located 1 block south of Figueroa St, the commercial hub of Highland Park. Notable tenants of this lively hub include Highland Park Bowl, Go Get 'Em Tiger, Mendocino Farms, Highly Likely, Blind B...arber and more. In addition, the property is approx. 2 miles from Occidental College, and could potentially be an off-campus student housing option. Built in 1961, this courtyard-style property features (3) 2-bdrm. units & (13) 1-bdrm. units. Please note, there is a VACANT 2-bdrm. unit. The property presents a substantial value-add opportunity with approx. 78% rental upside. At projected market rents, the property will stabilize at a 8.34% CAP and 9.01 GRM. 144 S. Avenue 55 can be purchased individually or in conjunction with a 10-unit property w/ approx. 60% rental upside, located 1 mile away (1223 N. Avenue 56). Please contact LA1 for more info.
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MLS#
24406843
Property Type
Cluster
Bedrooms
19
Bathrooms
Year Built
1961
Square Feet
11,048
sq. ft
Lot Size
0.37
Stories
2.0
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