232 N Avenue 53

    Highland Park, CA 90042
    • $4,800,000
    • STATUS: Active
    • ON SITE: 80 days
    • ID#: SR20003757
    UPDATED: 49 min ago
    $4,800,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,175
      SQFT
    • $430
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    Artisan Apartments is a substantially renovated 16-unit apartment complex located in a gentrified part of Highland Park, a lovely neighborhood in the San Rafael Hills of Los Angeles, California. Set on a 11,486 square foot lot, the 11,175-square-foot property built in 1930 is undergoing substantial renovations and features phenomenal rental upside. This ideal locale also allows easy freeway access to the 110 Arroyo Seco Parkway. The subject property currently offers 5 studios, 10 one-bedrooms and 1 two-bedroom, however after renovations are complete, there will be 12 one-bedroomsand 4 two-bedrooms. Note the owner pays for electricity for the unrenovated units.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-28T13:30:11.147. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Masters. Licensed in the State of California, USA.

    www.bestlahomefinder.com/homes/102092702

    232 N Avenue 53 Highland Park, CA 90042

    • Price: $4,800,000
    • Status: Active
    • Updated: 49 min ago
    • ID#: SR20003757
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    11,175
    SQFT
    $430
    $/SQFT
    1930
    Built
    Neighborhood:
    632 - Highland Park
    County:
    Los Angeles
    Area:
    632 - Highland Park
    Property Description
    Artisan Apartments is a substantially renovated 16-unit apartment complex located in a gentrified part of Highland Park, a lovely neighborhood in the San Rafael Hills of Los Angeles, California. Set on a 11,486 square foot lot, the 11,175-square-foot property built in 1930 is undergoing substantial renovations and features phenomenal rental upside. This ideal locale also allows easy freeway access to the 110 Arroyo Seco Parkway. The subject property currently offers 5 studios, 10 one-bedrooms and 1 two-bedroom, however after renovations are complete, there will be 12 one-bedroomsand 4 two-bedrooms. Note the owner pays for electricity for the unrenovated units.
    Exterior Features

    Garage Spaces 0.00 Lot Features Front YardGardenLandscaped Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 12.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.30 Community Features FoothillsHikingUrban Country Us Electric Expense 6299.00 Elevation Units Feet Fuel Expense 3373.00 Gardener Expense 2160.00 Gross Income 284564.00 Gross Multiplier 16.80 Gross Scheduled Income 284564.00 Insurance Expense 6447.00 Land Lease YN No Laundry YN Yes Licenses Expense 1085.00 Maintenance Expense 18574.00 Net Operating Income 155841.00 New Construction YN No New Taxes Expense 60000.00 Number Of Separate Electric Meters 17 Number Of Separate Gas Meters 17 Number Of Separate Water Meters 1 Operating Expense 120186.00 Other Expense 1200.00 Other Expense Description Misc. Pest Control Expense 876.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 120186.00 Trash Expense 2776.00 Vacancy Allowance 8537 Water Sewer Expense 14000.00 Water Source Public Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Warren Berzack of Lee & Associates


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-28T13:30:11.147. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Masters. Licensed in the State of California, USA.

     
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