224 South Avenue 58

Los Angeles CA 90042

4191 sq. ft.

7900 sq. ft.

Other

Currently for sale - view listing

Overview

We are pleased to present a six (6) unit apartment building located at 224 South Avenue 58 in Los Angeles, California. The subject property is situated in a prime Highland Park location, south of Figueroa Street and east of South Avenue 57. Originally built in 1961, this property contains an incredible unit mix of five (5) two-bedroom / one-bathroom units and one (1) three-bedroom / two-bathroom unit. The property features two (2) side-by-side houses with a fourplex in the middle. One (1) unit will be delivered vacant. The three-bedroom house was built in 1980 and connects to the 5-unit apartment building through a fully parked carport and a garage. Tenants will love being just down the street from trendy retail, restaurant, and entertainment amenities across Figueroa Street. Some of these amenities include Kitchen Mouse Cafe, Antigua Bread, Cafe Birdie, The Greyhound Bar & Grill, Gimme Gimme Records, Afters Ice Cream, and most prominently the renowned Highland Park Bowl. Outdoor recreation is also available down the street at Tierra de la Culebra Park, and Arroyo Seco Park a little further down. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor to capitalize on over 100% rental upside potential adjacent to numerous new developments in a rapidly gentrifying market of Los Angeles.