616 San Pascual Avenue , Los Angeles, CA 90042
Los Angeles, CA 90042
Description
** 4 Units Now DELIVERED VACANT - 9.29 GRM & 6.85% Cap Rate & $246/SF ** We are delighted to present a rare investment opportunity: a 16-unit mid-century complex located in one of Los Angeles' hottest neighborhoods Highland Park! Constructed in 1965, this offering consists of two adjacent buildings, each with eight townhome-style units. Each unit features 2 bedrooms and 1.5 bathrooms, with the entire property boasting approximately 15,008 SF of building space on a lot size of about 15,000 SF and on-site laundry facilities. Nestled in a residentially zoned community, the property offers abundant parking, which positions it well for strong market rental rates. For the astute investor, there is significant value-add potential with the possibility of adding up to four ADU units, with an estimated upside potential of approximately 89% (buyer to verify feasibility). The property is zoned RD1.5, with a completed soft-story retrofit and a Certificate of Compliance dated 04/23/2019. Strategically located in the vibrant epicenter of North East LA's Highland Park, tenants will enjoy proximity to the top retail corridors of York Blvd and Figueroa Street and easy access to South Pasadena and Pasadena. Disclosure: Buyers are advised to conduct all necessary due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, soft-story compliance, and the feasibility of constructing ADU(s) or additional units.** DO NOT DISTURB TENANTS OR WALK ON PROPERTY-DRIVE BY ONLY **
Details
| MLS# | 24420683 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1965 |
| Days On Site | 78 |
| Listing Provided By | Remax Commercial and Investment Realty 213-817-1000 | Eric Dilanian |
Features
| Bed(s) | 32 |
|---|---|
| Bath(s) | 24 |
| SQ Feet | 15,008 |
| Story(s) | 3 |
| Units | 16 |
| Building(s) | 2 |
| Zoning | LARD1.5 |
| Acreage | 0.34 |
Market Activity 90042
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90042 |
| Area | 632 Highland Park |
| Listing VS Median (in 90042) | |
Price: $3,700,000 low | high Med: $1,499,000 SqFt: 15,008 low | high Med: 2,583 $ / SqFt: $247 low | high Med: $580 On Site: 78 low | high Med: 12.000000 | |