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$3,950,000

Beds
19
sq ft
11,048

144 S Avenue 55, Los Angeles, CA 90042

144 S Avenue 55

Los Angeles, CA 90042

  • 8 days on market
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 Barber 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. 60% 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, located 1 mile away (1223 N. Avenue 56). Please contact LA1 for more info.

Details

Property type

Est. home value

$4,468,920

Lot size

0.3652 acres

Price per sq ft

$358

Year built

1961

HOA

No

Price History

06/21/2024
CLAW

CLAW #24406843

Listed
$3,950,000

Schools & Community

Neighborhood: 

Highland Park

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

First Republic Bank

Loan start date

June 2022

Original loan amount

$2,141,000

Est. remaining balance

Not provided

Interest rate

5%

Loan type

Commercial

Seller

Wilcox Angeles Llc and My Son Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 06/29/2024 at 6:45 AM

Listing updated: 06/29/2024 at 5:13 AM

Listed by: Kenny Stevens, Compass Phone #: (310) 230-5478

MLS: CLAW #24406843

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