327 S Avenue 57, Los Angeles, CA 90042

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Glen Henderson

[email protected] +1(619) 889-7646

$1,100,000

Est. payment - /mo

7 Beds

4 Baths

5,048 Sqft Lot

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UPDATED:

10/01/2024 11:38 AM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID GD24186749

Bedrooms 7

HOA Y/N No

Lot Size 5,048 Sqft

Type of Financing Conventional,Seller May Carry

Property Description

A unique opportunity to own a 4-unit income property in trendy Highland Park, close to Figueroa, and walkable to Highland Park Bowl, HomeState restaurant, Civil Coffee & Mendocino Farms. This property sits on a spacious 5,048 Sqft. lot that is zoned LARD 1.5 with a 42x120 dimension. The property consists of: (3) two beds & one bath; (1) one bed & one bath. Two of the 2 bed/1 bath units are approx. 750 sf and another is approx. 700 sf, with the one bedroom being around 600 sf. However, the 1 bed units adjoining large laundry room is perfectly sized for an easy bedroom conversion to a 2 bed 1 bath in order to increase the rent in the future. With unit #3 being vacant now its a great opportunity for an owner occupant to move-in, a family member, or to improve the unit and bring aboard a new tenant. The shared driveway allows each unit to access its one-car private carport space in the rear of the building, which may have the space for a potential ADU add-on above the four parking spots. This is a great value add-on opportunity for an investor to fix and renovate for a buy and hold or to flip. Additionally, the location offers convenient freeway access and proximity to Downtown LA, Pasadena, and the Metro Gold Line, making it ideal for those seeking the best of urban living in Highland Park. Whether for investment or personal use, this property offers a fantastic opportunity in one of the city's hottest neighborhoods. Seller may consider financing a carry-back loan with a qualified buyer and optimal terms.
A unique opportunity to own a 4-unit income property in trendy Highland Park, close to Figueroa, and walkable to Highland Park Bowl, HomeState restaurant, Civil Coffee & Mendocino Farms. This property sits on a spacious 5,048 Sqft. lot that is zoned LARD 1.5 with a 42x120 dimension. The property consists of: (3) two beds & one bath; (1) one bed & one bath. Two of the 2 bed/1 bath units are approx. 750 sf and another is approx. 700 sf, with the one bedroom being around 600 sf. However, the 1 bed units adjoining large laundry room is perfectly sized for an easy bedroom conversion to a 2 bed 1 bath in order to increase the rent in the future. With unit #3 being vacant now its a great opportunity for an owner occupant to move-in, a family member, or to improve the unit and bring aboard a new tenant. The shared driveway allows each unit to access its one-car private carport space in the rear of the building, which may have the space for a potential ADU add-on above the four parking spots. This is a great value add-on opportunity for an investor to fix and renovate for a buy and hold or to flip. Additionally, the location offers convenient freeway access and proximity to Downtown LA, Pasadena, and the Metro Gold Line, making it ideal for those seeking the best of urban living in Highland Park. Whether for investment or personal use, this property offers a fantastic opportunity in one of the city's hottest neighborhoods. Seller may consider financing a carry-back loan with a qualified buyer and optimal terms.

Location

State CA

County Los Angeles

Area Los Angeles (90042)

Zoning Assessor

Interior

Cooling Wall/Window

Air Conditioning Wall/Window

Exterior

Exterior Feature Stucco

Roof Type Rolled/Hot Mop

Building

Lot Description Sidewalks

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Monthly Total Fees $38

Acceptable Financing Conventional, Seller May Carry

Space Rent $1,622

Listing Terms Conventional, Seller May Carry

CFD/Mello-Roos Fee $457

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Listed by Levon Arzumanyan • The Agency - Studio City

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

327 S Avenue 57 Los Angeles, CA 90042

Glen Henderson

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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