616 San Pascual Ave Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90042
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 15,008 sqft
Price per Sqft $246
MLS Listing ID 24-420683
Bedrooms 32
Year Built 1965
Lot Size 0.344 Acres
Acres 0.3445
Property Description
** 4 Units Now DELIVERED VACANT - 9.29 GRM & 6.85% Cap Rate & $246/SF ** We are delighted to present a rare investment opportunity: a 16-unit mid-century complex located in one of Los Angeles' hottest neighborhoods Highland Park! Constructed in 1965, this offering consists of two adjacent buildings, each with eight townhome-style units. Each unit features 2 bedrooms and 1.5 bathrooms, with the entire property boasting approximately 15,008 SF of building space on a lot size of about 15,000 SF and on-site laundry facilities. Nestled in a residentially zoned community, the property offers abundant parking, which positions it well for strong market rental rates. For the astute investor, there is significant value-add potential with the possibility of adding up to four ADU units, with an estimated upside potential of approximately 89% (buyer to verify feasibility). The property is zoned RD1.5, with a completed soft-story retrofit and a Certificate of Compliance dated 04/23/2019. Strategically located in the vibrant epicenter of North East LA's Highland Park, tenants will enjoy proximity to the top retail corridors of York Blvd and Figueroa Street and easy access to South Pasadena and Pasadena. Disclosure: Buyers are advised to conduct all necessary due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, soft-story compliance, and the feasibility of constructing ADU(s) or additional units.** DO NOT DISTURB TENANTS OR WALK ON PROPERTY-DRIVE BY ONLY **
Location
State CA
County Los Angeles
Area Highland Park
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall/Window
Equipment Other
Laundry Community
Exterior
Garage Other
Garage Spaces 16.0
Building
Story 3
Level or Stories Multi/Split
Others
Special Listing Condition Standard