255 S Avenue 55

    Los Angeles (City), CA 90042
    • $3,300,000
    • STATUS: Active
    • ON SITE: 199 days
    • ID#: 19451516
    UPDATED: 40 min ago
    $3,300,000
    • 19
      BEDS
    • 0.27
      ACRES
    • 10
      BATHS
    • 0
      1/2 BATHS
    • 7,538
      SQFT
    • $438
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    255 S Avenue 55 is a 10 Unit Mid-Century Courtyard Apartment located in a PRIME location of Highland Park. Step out the door and walk one block to Figueroa Dining/Nightlife! Offered at 5.03% CAP Rate and 13.31 GRM. 7 out of 10 units are VACANT and 6 out of 10 Units are beautifully renovated with quartz countertops, stainless appliances, vinyl plank flooring, keypad keyless entry, laundry hookups, and wall mount HVAC systems. Recent upgrades include a new roof and copper plumbing throughout the building. The units average 750 sf and the unit mix consists of (9) 2 Bedroom 1 Bathroom units and (1) 1 Bedroom 1 Bathroom units. There is 20% upside in rents for the un-renovated units. This fully gated, secure property sits on a large 10,900 sf lot with a fire pit in the center of the common courtyard area. There are 10+ parking spaces, onsite laundry facilities, and the building is separately metered for gas + electricity. Once rented, this building will gross $247,848 annually!!

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    Based on information from CARETS as of 2019-10-21T07:43:27.323. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.rosalietherealtor.com/homes/93363586

    255 S Avenue 55 Los Angeles (City), CA 90042

    • Price: $3,300,000
    • Status: Active
    • Updated: 40 min ago
    • ID#: 19451516
    19
    Beds
    10
    Baths
    0
    ½ Baths
    0.27
    Acres
    7,538
    SQFT
    $438
    $/SQFT
    1962
    Built
    Neighborhood:
    Highland Park (632)
    County:
    Los Angeles
    Area:
    Highland Park (632)
    Property Description
    255 S Avenue 55 is a 10 Unit Mid-Century Courtyard Apartment located in a PRIME location of Highland Park. Step out the door and walk one block to Figueroa Dining/Nightlife! Offered at 5.03% CAP Rate and 13.31 GRM. 7 out of 10 units are VACANT and 6 out of 10 Units are beautifully renovated with quartz countertops, stainless appliances, vinyl plank flooring, keypad keyless entry, laundry hookups, and wall mount HVAC systems. Recent upgrades include a new roof and copper plumbing throughout the building. The units average 750 sf and the unit mix consists of (9) 2 Bedroom 1 Bathroom units and (1) 1 Bedroom 1 Bathroom units. There is 20% upside in rents for the un-renovated units. This fully gated, secure property sits on a large 10,900 sf lot with a fire pit in the center of the common courtyard area. There are 10+ parking spaces, onsite laundry facilities, and the building is separately metered for gas + electricity. Once rented, this building will gross $247,848 annually!!
    Exterior Features

    Building Structure Style Mid Century Common Walls Attached Covered Spaces Total 7 Exterior Construction Stucco Lot Description 2-4 LotsYard Lot Size Dimension Description 85X140 Open Other Spaces Total 3 Other Structural Features Full Copper Plumbing Parking Features Uncovered Parking Spaces Total 10 Parking Type Carport AttachedTandem Paved YN Y

    Interior Features

    Appliances DishwasherGas Or Electric Dryer HookupRefrigerator Bathroom Features Remodeled Cooking Appliances MicrowaveRangeOven Cooling Type Wall Unit(S) Floor Material Sheet Vinyl Heating Type Other Interior Features Open Floor Plan Kitchen Features Remodeled Laundry Locations Laundry Area Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Unfurnished Unit Furnished05 Unfurnished Unit Furnished06 Unfurnished Unit Furnished07 Unfurnished Unit Furnished08 Unfurnished Unit Furnished09 Unfurnished Unit Furnished10 Unfurnished Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 1.0 Unit Number Of Bath04 1.0 Unit Number Of Bath05 1.0 Unit Number Of Bath06 1.0 Unit Number Of Bath07 1.0 Unit Number Of Bath08 1.0 Unit Number Of Bath09 1.0 Unit Number Of Bath10 1.0 Unit Number Of Bed01 2 Unit Number Of Bed02 2 Unit Number Of Bed03 2 Unit Number Of Bed04 2 Unit Number Of Bed05 1 Unit Number Of Bed06 2 Unit Number Of Bed07 2 Unit Number Of Bed08 2 Unit Number Of Bed09 2 Unit Number Of Bed10 2 Water Heaters YN Y

    Property Features

    Actual Annual Gross Rent 247848.00 Adjusted Gross Income 247848.00 Assessed Improvement Value 267622.00 Assessed Land Value 259664.00 Building Permit YN Y Cap Rate 5.03 Country United States Of America Cross Streets Figueroa And S Avenue 55 Expense Total Annual 74337.00 Gross Operating Income 240413.00 Gross Rent Multiplier 13.31 Hoa YN N Legal Disclosures Take Property As IsRent Control Lot Size Source Public Records Net Operating Income 166075.00 Number Leased 4 Number Of Buildings 1 Owner Pays Water Property Condition Repair CosmeticRepairs MajorUpdated/Remodeled Security Safety Gated Community Special Conditions Standard Sale Square Footage Source Public Records Tenant Pays ElectricityGas Unit Monthly Rent01 2500.00 Unit Monthly Rent02 2500.00 Unit Monthly Rent03 2500.00 Unit Monthly Rent04 1032.00 Unit Monthly Rent05 2000.00 Unit Monthly Rent06 2500.00 Unit Monthly Rent07 1124.00 Unit Monthly Rent08 2500.00 Unit Monthly Rent09 1373.00 Unit Monthly Rent10 2500.00 Unit Projected Total Monthly Rent01 2500.00 Unit Projected Total Monthly Rent02 2500.00 Unit Projected Total Monthly Rent03 2500.00 Unit Projected Total Monthly Rent04 2500.00 Unit Projected Total Monthly Rent05 2000.00 Unit Projected Total Monthly Rent06 2500.00 Unit Projected Total Monthly Rent07 2500.00 Unit Projected Total Monthly Rent08 2500.00 Unit Projected Total Monthly Rent09 2500.00 Unit Projected Total Monthly Rent10 2500.00 Unit Total Monthly Rent01 2500.00 Unit Total Monthly Rent02 2500.00 Unit Total Monthly Rent03 2500.00 Unit Total Monthly Rent04 1032.00 Unit Total Monthly Rent05 2000.00 Unit Total Monthly Rent06 2500.00 Unit Total Monthly Rent07 1124.00 Unit Total Monthly Rent08 2500.00 Unit Total Monthly Rent09 1373.00 Unit Total Monthly Rent10 2500.00 Unit Type01 1 Unit Type02 1 Unit Type03 1 Unit Type04 1 Unit Type05 1 Units Total In Complex 10 Zoning Lard2

    Listing provided courtesy of Kenny Stevens DRE#01090251 of Compass.


    Based on information from CARETS as of 2019-10-21T07:43:27.323. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
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