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501 N Avenue 50

Los Angeles (City), CA 90042
  • $1,850,000
  • STATUS: Active Under Contract
  • ON SITE: 109 Days
  • ID#: 24344269
Under Contract
UPDATED: 167 min ago
$1,850,000
  • 15
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,580
    SQFT
  • $244
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1922
County:

School Ratings & Info

Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)


Description

We are pleased to present an eleven (11) unit apartment building located at 501 North Avenue 50 in Los Angeles, California. The subject property is situated in a prime Highland Park location, north of Figueroa Street and southeast of El Paso Drive. Built in 1922, this property contains a great unit mix of one (1) studio / one-bathroom unit, seven (7) one-bedroom / one-bathroom units, and three (3) two-bedroom / one-bathroom units. This gated, courtyard style property features character, Spanish accents that makes the building look and feel like a bungalow community. There is alley access at the rear of the property with secure access to ample on-site parking. There is potential to add multiple ADU unit(s) to the storage areas or to the parking lot. Tenants will love living just down the street from Figueroa, a trendy and historic thoroughfare considered as the core of Highland Park. Some of the notable amenities include Highland Park Bowl, Most Likely Highland Park, The Greyhound Bar, Civil Coffee, Lodge Room, and ETA Oyster Bar. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor capitalize on strong rental upside at a low price point in one of the trendiest markets of Los Angeles.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T19:38:30.2. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/146428361
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501 N Avenue 50 Los Angeles (City), CA 90042

  • Price: $1,850,000
  • Status: Active Under Contract
  • On Site: 109 Days
  • Updated: 167 min ago
  • ID#: 24344269
15
Beds
0
Baths
0
½ Baths
0.27
Acres
7,580
SQFT
$244
$/SQFT
1922
Built
Neighborhood:
632 - Highland Park
County:
Los Angeles
Area:
632 - Highland Park
Property Description
We are pleased to present an eleven (11) unit apartment building located at 501 North Avenue 50 in Los Angeles, California. The subject property is situated in a prime Highland Park location, north of Figueroa Street and southeast of El Paso Drive. Built in 1922, this property contains a great unit mix of one (1) studio / one-bathroom unit, seven (7) one-bedroom / one-bathroom units, and three (3) two-bedroom / one-bathroom units. This gated, courtyard style property features character, Spanish accents that makes the building look and feel like a bungalow community. There is alley access at the rear of the property with secure access to ample on-site parking. There is potential to add multiple ADU unit(s) to the storage areas or to the parking lot. Tenants will love living just down the street from Figueroa, a trendy and historic thoroughfare considered as the core of Highland Park. Some of the notable amenities include Highland Park Bowl, Most Likely Highland Park, The Greyhound Bar, Civil Coffee, Lodge Room, and ETA Oyster Bar. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor capitalize on strong rental upside at a low price point in one of the trendiest markets of Los Angeles.
Exterior Features

Open Parking Spaces 11 Parking Features GatedUncovered Parking Total 11 Pool Features None Pool Private YN No Spa Features None Spa YN No View City Lights View YN Yes

Interior Features

Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association YN No Cap Rate 3.99 Community Features Gated Gross Income 140651 Land Lease YN No Levels Two Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 73758 New Construction YN No Possession Close Of Escrow Property Condition Fixer Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning LARD1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-24T19:38:30.2. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
 
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395
Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)