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$ 1,399,000
Est. payment /mo
Open Sun 12PM-3PM
223 S Avenue 57 Los Angeles, CA 90042
6 Beds
4 Baths
2,633 SqFt
Open House
Sun Sep 06, 12:00pm - 3:00pm
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,633 sqft
Price per Sqft $531
MLS Listing ID 26952553
Bedrooms 6
HOA Y/N No
Year Built 1918
Lot Size 10,367 Sqft
Property Description
Rare opportunity to acquire a high-performing multi-family property that perfectly combines prime location, exceptional condition, and strong cash flow. Situated on a sprawling 10,300 sq ft lot, two of the units in this unique four-unit compound are detached (no common walls) two bedroom dwellings, complete with their own private yard, offering an unparalleled level of privacy. The larger of these two has a massive fenced back yard, with mature fruit trees, and a latticed covered patio. The other one has just been beautifully and thoroughly renovated, sitting vacant and ready for immediate occupancy or market-rate leasing. The property is a dream for both pure investors and owner-occupiers alike. Every unit is meticulously maintained and features mini-split heating and A/C systems in all bedrooms and common areas for optimal, efficient climate control. Recent upgrades include plumbing fully replaced inside and out with pex pipes in all four units; new roof on three of the four units; upgraded electrical in three of the four units; sewer line for the 1 bed units on the east side of the property recently re-lined. Additional amenities include dedicated two-car tandem parking for each unit (including individual garage spaces), a secure coin-operated laundry room servicing the property, and dishwasher in the largest unit. Set back from a tree-lined street, this property sits directly across the street from the iconic "La Tierra de la Culebra Art Park." The park, while City owned, is lovingly cared for and contributed to (art-wise) by the local neighbors, giving a 'neighborhood' vibe that is rare to find in L.A. Another big plus - the property is a 5 minute walk to the nearest Gold Line metro stop that goes right through Highland Park, and stretches from Pasadena to Downtown L.A.P.S. Incredible value-add potential! The garage spaces will be delivered completely vacant at the close of escrow. Given the expansive lot size and California's highly favorable multifamily ADU laws, this offers a premier opportunity for a future garage-to-ADU conversion to maximize your rental income buyer to verify capacity with the city!
Location
State CA
County Los Angeles
Area 632 - Highland Park
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Refrigerator, Dryer, Washer
Exterior
Parking Features Detached Carport
Garage Spaces 4.0
Garage Description 4.0
Total Parking Spaces 8
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5492004012
Special Listing Condition Standard
Listed by Ken Shapiro Silverwood Properties #01715663
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