$2,475,000
- Beds
- 10
- sq ft
- 5,794
1223 N Avenue 56, Los Angeles, CA 90042
1223 N Avenue 56
Los Angeles, CA 90042
- 8 days on market
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 LA1 for more info.
Details
Property type
Lot size
0.2893 acres
Price per sq ft
$428
Year built
1950
HOA
No
Price History
06/21/2024
![CLAW](/_next/static/media/clawLogo.95a18e7e.png)
CLAW #24406869
Listed
$2,475,000
Schools & Community
Neighborhood:
Highland Park
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Gated
Community features:
Gated
Status: Active
Tomo last checked: 06/29/2024 at 7:30 AM
Listing updated: 06/29/2024 at 5:13 AM
Listed by: Kenny Stevens, Compass Phone #: (310) 230-5478
MLS: CLAW #24406869
![CLAW logo](/_next/static/media/clawLogo.95a18e7e.png)
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