116 S Avenue 64

  • Highland Park

  • $2,888,000
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Residential Income Details

Description
Welcome to one of the best investments in Los Angeles real estate! Owner/occupant is moving out of state and must sell. There are two lots that are tied together for over 12,000 square feet of space with plenty of room to construct a second building with 4-5 more units. The existing building was built at the turn of the century and has been expertly restored into a luxury mixed-use complex. There are currently 5 total units with the ground floor front unit being a light & bright commercial space well suited for retail or office space. Ideal for owner/occupant use by an attorney, artist, retail shop, architect, or a variety of other businesses. There are 3 luxury rental units currently commanding very high rents due to perfect space plans and exquisite interior finishes; these units include washer/dryers, dishwashers, new doors/windows, and are available furnished. There is one rent-controlled tenant in the unrestored 5th unit. Abundant parking with 12 ground spaces and 4 garage spaces behind a secure iron fence and motorized gate. The building has security cameras and the office space has a state-of-the-art alarm system. With a CAP rate over 6%, this is a deal not to be missed! Preliminary conceptual plans for the second, matching building available upon request. Buyer to investigate and verify all information including but not limited to current zoning and property use restrictions.
Essential
MLS #AR18185600
Price$2,888,000
Number of Units5
Sale TypeStandard
StatusActive
Listing BrokerageDilbeck Real Estate
Listing AgentKaryn Godbold
Listing Agent BRE #01988497
Interior
FloorTile,Wood
CoolingCentral
HeatingCentral Furnace
Exterior
Garage Spaces4
PoolNone
Community
Area632 - Highland Park
CommunitySidewalks
Address116 S Avenue 64
CityHighland Park
CountyLos Angeles
StateCA
ZipCode90042
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Thursday, September 20, 2018. 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.