$2,295,000
Est. payment /mo
10,492 SqFt
Active
820 Chestnut Avenue Los Angeles, CA 90042
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,492 sqft
Price per Sqft $218
MLS Listing ID CL26665521
HOA Y/N No
Year Built 1959
Lot Size 0.366 Acres
Acres 0.3658
Property Sub-Type Other
Property Description
** PRICE REDUCED ** New Metrics: $164K/Door, 9.16 GRM, 218/SF, 6.81% Cap Rate ** We are proud to present an extremely rare 43-unit portfolio opportunity in Highland Park, one of LA's hottest and most sought-after sub-markets: 820 Chestnut Ave, a 14-unit mid-century building, is 1 of 3 assets offered either individually or as a portfolio. The property was built in 1959 and features a 10,492 square foot building situated on a large 15,933 square foot lot, zoned RD1.5-1. The property offers an excellent unit mix consisting of eight (1+1) units, three (2+1) units, two (2+2) units, and one (0+1) unit with 2 UNITS DELIVERED VACANT. Offered for sale for the first time in 17 years, the asset presents an excellent value-add opportunity with a compelling basis and potential to further enhance returns through rental upside and multiple ADU additions. Ideally located in a quiet and quaint neighborhood, tenants will enjoy close proximity to LA's top retail corridors of York Blvd and Figueroa Street, as well as easy access to South Pasadena and Pasadena. ASSET 2 OF 3: 5629 Monte Vista St | 90042 (12 Units) See Listing Details ASSET 3 OF 3: 217 S Avenue 54 | 90042 (17 Units) See Listing Details. DISCLOSURE: Buyers are advised to conduct independent, thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibility.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Laundry Laundry Room
Building
New Construction No
Others
Tax ID 5493037002
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Listed by Eric Dilanian • Remax Commercial and Investment Realty
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