1337 Highland Ave, Los Angeles, CA 90019
8 Unit Apartment Building | $1,250,000 ($156,250/Unit) | 3.13% Cap Rate | Los Angeles, CA 90019
For Sale
Active
Asking Price $1,250,000
- Property Type
-
Multifamily
- Square Feet
- 6,208 SF
Listing Contacts
John Alden
Property Overview
Sold As-Is and Subject to Overbid and Court Confirmation
The garden style asset, 1337 S. Highland Avenue, is comprised of two adjacent apartment buildings with a total of eight units situated in the diverse Mid City neighborhood of Los Angeles. The asset boasts eight tandem parking spaces located directly in front of the property. The unit mix consists of eight large, well-designed one-bedroom / one bathroom units that include outdoor space for added convenience and appeal.
The low price per unit establishes a strong initial investment basis, making it attractive for buyers looking to maximize their return. Notably, the property has a significant 126% potential upside in rents, indicating substantial room for income growth and increased profitability via bringing down operational expenditures. This property offers a compelling value add investment opportunity to new ownership.
The neighborhood is located in the city’s central region, between Hancock Park and Miracle Mile, and is bordered by West Third Street, La Brea Avenue, Wilshire Boulevard, Crenshaw Boulevard, Pico Boulevard, and Fairfax Avenue.
This combination of features, location, and growth potential makes 1337 S. Highland Avenue a standout choice for investors seeking both immediate value and long-term.
The garden style asset, 1337 S. Highland Avenue, is comprised of two adjacent apartment buildings with a total of eight units situated in the diverse Mid City neighborhood of Los Angeles. The asset boasts eight tandem parking spaces located directly in front of the property. The unit mix consists of eight large, well-designed one-bedroom / one bathroom units that include outdoor space for added convenience and appeal.
The low price per unit establishes a strong initial investment basis, making it attractive for buyers looking to maximize their return. Notably, the property has a significant 126% potential upside in rents, indicating substantial room for income growth and increased profitability via bringing down operational expenditures. This property offers a compelling value add investment opportunity to new ownership.
The neighborhood is located in the city’s central region, between Hancock Park and Miracle Mile, and is bordered by West Third Street, La Brea Avenue, Wilshire Boulevard, Crenshaw Boulevard, Pico Boulevard, and Fairfax Avenue.
This combination of features, location, and growth potential makes 1337 S. Highland Avenue a standout choice for investors seeking both immediate value and long-term.
Property Details
- Class
- B
- Year Built
- 1928
- Stories
- 2
- Lot Size (sq. ft)
- 9,148 SF
- Units
- 8
Highlights
- Excellent unit mix of eight one bedrooms / one bath units
- Controlled access entry
- Significant 126% upside potential in rents
- Well maintained landscaped grounds
- Prime Mid-Wilshire neighborhood
- Sold As-Is and Subject to Overbid and Court Confirmation
Nearby Properties
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