1223 Avenue 56, Los Angeles
Los Angeles Home For Sale
1223 N. Avenue 56 is a 10-unit value-add property, on a 12,603 SF lot, located 1 block north or York Blvd, the artistic hub of Highland Park. Notable tenants of this lively hub include Kumquat Coffee, Block Party, The York, Joy, Collage Coffee & more. In addition, the property is located 1.5 miles from Occidental College, and could serve as a great off-campus student housing option. 1223 N. Ave. 56 presents a substantial value-add opportunity with approx. 63% rental upside. At projected market rents, the property will stabilize at a 8.07% CAP and 9.35 GRM. Built in 1950 & 1953, this property features (10) 1-bdrm. units spread across (3) 2-story buildings. The 12,603 SF lot features 2 APNs. Property amenities include automatic gated entry and approx. 9 surface tandem parking spaces. 1223 N. Ave. 56 can be purchased individually or in conjunction with a 16-unit property, located 1 mile away (144 S. Avenue 55). Please contact LA1 for more info.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90042
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- MLS® #:
- 24406869
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- Bedrooms:
- 1
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- Bathrooms:
- 1
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- Square Ft:
- 5,794
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- Lot Size:
- 0.29
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- Levels:
- Two
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of July 14th, 2024 at 2:55pm PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.