616 San Pascual Avenue, Los Angeles, CA 90042
-
Listed Price :
$3,700,000
-
Beds :
32
-
Baths :
24
-
Property Size :
15,008 sqft
-
Year Built :
1965
Property Description
** REDUCED BY $295,000 & 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 **
Interior Features
| Laundry Information |
| Location(s) |
Common Area |
| Bedroom Information |
| Bedrooms |
32 |
| Bathroom Information |
| Bathrooms |
24 |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
616 San Pascual Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90042 |
| County |
Los Angeles |
| Listing Agent |
Eric Dilanian DRE #01951699 |
| Courtesy Of |
Remax Commercial and Investment Realty |
| List Price |
$3,700,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
15,008 |
| Lot Size |
15,005 |
| Year Built |
1965 |
Listing information courtesy of: Eric Dilanian, Remax Commercial and Investment Realty. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 16th, 2024 at 5:57 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
