Description

Rare opportunity to buy a turnkey 4plex in hip Highland Park that cash flows! All apartments are 1 bedroom and 1 bathroom and fully remodeled inside with modern finishes such as trendy black hardware, butcher block countertops, white cabinets in kitchens and bathrooms, unique light fixtures, light wood flooring, and much more. The spacious units average 806 SF each per title.  All units have offices with access via the hallway; 2 offices are large enough to fit a desk and murphy bed, and 2 offices are smaller.  Market rents are $2,400 and $2,600 for the units with the large offices.

 

Great tenants, well managed, rents average $1,990/month per unit, and collections were 100% during COVID. Owner is selling in order to exchange up! * 16.06 GRM on current rents and 4.6% CAP Rate! * Large parking lot behind the building with 8 parking spaces. In front of the building, there is a shared patio for tenants with a community garden box Separate meters and hot water heaters. If you are looking for an easy, well-performing 4 unit in a hot area that is already updated and offers more room to grow, this building is for you. Drive-by today and see for yourself - but don't delay - this deal is priced to sell! Located just a few blocks from Figueroa and near some of the best restaurants and attractions in Highland Park, such as La Cuevita, Triple Beam Pizza, Highland Park Wine, Hippo, Kitchen Mouse Cafe, and more. Also super close to Hermon Dog Park & Arroyo Seco Park

 

Location

Nestled in the heart of Highland Park only a few blocks from York Blvd and Figueroa, this property is surrounded by a wide array of local amenities! Enjoy a delicious espresso at The Highland Café, a laid-back coffee shop serving inventive egg dishes with a warm brick interior. Check out some of the unique and interesting art at the MorYork Gallery after a Ramen lunch at the Ramen of York restaurant. Head over to the Hi-Hat for some live music while bar-hopping through some of LA’s hottest bars on York Blvd. Whether it is the traditional flare of local favorites like El Huarache Azteca or La Fuente Restaurant or the modern additions like The York, Donut Friend, Hippo, Planta or Sonny’s Hideaway, or order in and pick up some wine from Highland Park Wine. Highland Park has something for everyone and this location gives you access to it all!