249 S Avenue 55

    Los Angeles (City), CA 90042
    • $10,500,000
    • STATUS: Active
    • ON SITE: 112 days
    • ID#: 18358074
    UPDATED: 114 min ago
    $10,500,000
    • 0
      BEDS
    • 0.89
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 24,722
      SQFT
    • $425
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:

    School Ratings & Info

    Description

    249 S Ave 55 is a 2-story, 40-unit, Mid-Century apartment building located in the heart of Highland Park-one of Los Angeles' hottest sub-markets. Teeming with authentic Mid-Century charm, this extremely well-maintained asset features 40 secure parking spaces, an over-sized center courtyard lined with beautiful, drought tolerant landscaping, a large pool with ample lounge areas and colorful accent murals/designer paint themes. The building features on-site laundry and is separately metered for gas and electric. 28% of the units (11 in total) have been renovated to include beadboard ceilings, new kitchens, with modern cabinets, stainless steel appliances, quartz counter-tops, and remodeled bathrooms.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T00:30:49.157. 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. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/85928542

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

    • Price: $10,500,000
    • Status: Active
    • Updated: 114 min ago
    • ID#: 18358074
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.89
    Acres
    24,722
    SQFT
    $425
    $/SQFT
    1961
    Built
    Neighborhood:
    632 - Highland Park
    County:
    Los Angeles
    Area:
    632 - Highland Park
    Property Description
    249 S Ave 55 is a 2-story, 40-unit, Mid-Century apartment building located in the heart of Highland Park-one of Los Angeles' hottest sub-markets. Teeming with authentic Mid-Century charm, this extremely well-maintained asset features 40 secure parking spaces, an over-sized center courtyard lined with beautiful, drought tolerant landscaping, a large pool with ample lounge areas and colorful accent murals/designer paint themes. The building features on-site laundry and is separately metered for gas and electric. 28% of the units (11 in total) have been renovated to include beadboard ceilings, new kitchens, with modern cabinets, stainless steel appliances, quartz counter-tops, and remodeled bathrooms.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking YN Yes Pool Features In GroundFenced Pool Private YN Yes

    Interior Features

    Appliances RefrigeratorFreezerDishwasher Appliances YN Yes Flooring Wood Laundry Features Community

    Property Features

    Cap Rate 3.24 Gross Multiplier 17.23 Gross Operating Income 591267.00 Laundry YN Yes Net Operating Income 340448.00 Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 250818.00 Zoning Lard2

    Listing provided courtesy of Matthew R. Kanner of Keller Williams Realty Los Fel.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T00:30:49.157. 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. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604