Los Angeles, CA 90042 144 S Avenue 55
$3,825,000
4 more
Presented By: Kenny Stevens with Compass
Home Details
*** $125,000 price reduction **** 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. 78% 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 w/ approx. 60% rental upside, located 1 mile away (1223 N. Avenue 56). Please contact LA1 for more info.
Presented By: Kenny Stevens with Compass
Interior Features for 144 S Avenue 55
Bedrooms
Total Bedrooms19
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths16
Other Interior Features
Air Conditioning Y/NYes
Laundry FeaturesCommon Area, Laundry Room
Total Stories2
General for 144 S Avenue 55
Additional Parcels Y/NNo
CityLos Angeles
Community FeaturesGated
CoolingWall/Window Unit(s)
CountyLos Angeles
Days on Market
DirectionsApprox. 4 parcels south of Figueroa St, 144 S. Avenue 55 is within walking distance of the commercial hub of Highland Park.
Facing DirectionEast
Gross Income275409
HOA / Comm AssnNo
LevelsTwo
Lot Size Square Feet15910
Lot Size UnitsSquare Feet
MLS Area632 - Highland Park
Net Operating Income170820
New ConstructionNo
NumberOfUnitsTotal16
Occupancy TypeTenant
Open Parking Spaces16
Property TypeResidential Income
Rent Control Y/NYes
Security FeaturesGated Community
Senior Community Y/NNo
Standard StatusActive
StatusActive
Stories2
ViewNone
View Y/NNo
Year Built1961
ZoningLARD1.5
Exterior for 144 S Avenue 55
Building Area Total11048
Lot Size Acres0.3652
Lot Size Area15910
Number of Buildings1
Parking FeaturesUncovered
Total Parking16
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480