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$ 1,895,000
Est. payment | /mo
9,599 SqFt
$ 1,895,000
Est. payment | /mo
9,599 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,599 sqft
Price per Sqft $197
MLS Listing ID CL26665525
HOA Y/N No
Year Built 1964
Lot Size 0.276 Acres
Acres 0.2757
Property Sub-Type Other
Property Description
** PRICE REDUCED ** New Metrics: $158K/Door, 9.27 GRM, 197/SF, 6.46% Cap Rate ** We are proud to present an extremely rare 43-unit portfolio opportunity in Highland Park, one of LA's hottest and most sought-after sub-markets: 5629 Monte Vista Street, a 12-unit mid-century building, is 1 of 3 assets offered either individually or as part of the portfolio. Strategically located just two blocks north of Figueroa Street and at the epicenter of Highland Park's most vibrant retail and dining corridor, the property was built in 1964 and features a substantial 9,599 square foot building situated on 12,008 square feet of land, zoned RD1.5-1-HPOZ. The property offers an excellent unit mix consisting of five (2+2) units, six (1+1) units, and a spacious owner's 3+2 unit with a private enclosed front yard. Offered for sale for the first time in nearly 40 years, the asset presents a compelling value-add opportunity with a strong basis and potential to further enhance returns through rental upside and multiple ADU additions. With a Walk Score of 95 ("Walker's Paradise"), residents enjoy immediate access to the Gold Line and neighborhood favorites, including Highland Park Bowl, Kitchen Mouse Cafe, HomeState, Civil Coffee, The Arroyo Club, Mendocino Farm, Villas Tacos, and Jeni's Ice Cream. ASSET 2 OF 3: 217 S AVENUE 54 | 90042 (17 UNITS) See Listing Details ASSET 3 OF 3: 820 CHESTNUT AVE | 90042 (14 UNITS) See Listing Details DISCLOSURE: Buyers are advised to conduct independent, thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibility.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Fireplace No
Laundry Laundry Room
Building
New Construction No
Others
Tax ID 5469032002
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Listed by Eric Dilanian • Remax Commercial and Investment Realty
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