Los Angeles, CA 90042 327 S Avenue 57
$1,100,000
16 more
Presented By: Levon Arzumanyan with The Agency - Studio City; 213-414-8088
Home Details
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 42’x120’ 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 unit’s 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 – it’s 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.
Presented By: Levon Arzumanyan with The Agency - Studio City; 213-414-8088
Interior Features for 327 S Avenue 57
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 327 S Avenue 57
Additional Parcels Y/NNo
AppliancesGasRange, Refrigerator
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate3.18
Carport Spaces4.0
Carport Y/NYes
CityLos Angeles
Community FeaturesSidewalks
Construction MaterialsStucco
CoolingWallWindowUnits
CountyLos Angeles
Days on Market17
DirectionsN of Via Marisol
ElectricStandard
Electric Expense0.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense1498.0
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOA0.0
HeatingWallFurnace
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense1823.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet5048.0
Lot Size UnitsSquareFeet
MLS Area632 - Highland Park
MobileHomeRemainsYNNo
Net Operating Income35010.0
New ConstructionNo
Number of Units Leased4
NumberOfUnitsTotal4
Operating Expense32617.0
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property ConditionFixer
Property Sub Type AdditionalQuadruplex
Property SubTypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NYes
RoofRolledHotMop, Shingle
Security FeaturesWindowBars
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot14
Taxes$13,914
Tenant PaysElectricity, Gas, Other, TrashCollection
TermsConventional, OwnerWillCarry, OwnerMayCarry
Total Actual Rent67626.9
Trash Expense1910.0
ViewNone
View Y/NNo
Water Sewer Expense3856.0
Waterfront Y/NNo
Year Built1955
Year Built SourceAssessor
ZoningLARD1.5
Exterior for 327 S Avenue 57
Building Area Total2898.0
Crops Included Y/NNo
FencingChainLink
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1159
Lot Size Area5048.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters5
Number of Separate Gas Meters5
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesCarport
Pool Charge0.0
Road Surface TypePaved
SpaNo
Total Parking4.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480