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Renovated Highland Park Quadruplex

$1,450,000 

5920 Benner St

# of Units: 4

GRM: 13.94

CAP Rate: 5.57%

Price/SF: $450

Building SF: 3,224

Lot SF: 5,600

Zoning: LARD1.5

Year Built: 1948

Description

Rare opportunity to buy a turnkey 4plex in hip Highland Park that cash flows! All apartments function as 2 bedroom and 1 bathroom and are fully remodeled inside with modern finishes such as trendy black hardware, butcher block countertops, white cabinets in kitchens and bathrooms, unique light fixtures, recessed lighting in living rooms, laminate wood flooring, partial copper plumbing and much more. The spacious units average 806 SF each per title. Two units have bonus rooms that function as offices, making this highly conducive to tenants who work from home.  Great tenants, well managed, and rents average $2,166/month per unit, making this an excellent investment in a stellar location.  All units have only 1 or 2 tenants each, there are no long term tenants, and these units generally turn over every few years.  The property is easy to manage, has low expenses, and a good roof.  There is a front yard area with communal lounge furniture, garden plots and BBQ grill where tenants can keep plants, hang out, and feel at home.  

 

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 Figueroa, this property is surrounded by a wide array of local amenities! Enjoy a delicious espresso at Civil Coffee or Go Get Em Tiger.  Or enjoy a traditional Guatemalan breakfast from Antigua Bread. Check out some of the unique and interesting art at the MorYork Gallery after a brisket tacos from Home State. Head over to a show at the Lodge Room for some live music before bar-hopping through some of NELA’s hottest bars. Whether it is the traditional flare of local favorites like El Huarache Azteca or La Fuente Restaurant or the modern additions like Highly LIkely, Donut Friend, Hippo, Planta or Triple Beam Pizza, 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!

The property is located just south of Figueroa on a quiet street near the 110 Freeway.  It is walkable to all the hotspots on Figueroa, as well as nearby parks, the Metro Gold Line, and so much more.  The median single family home price in Highland Park is now $1,138,000, making this an extremely high barrier to entry area and extremely popular among high earning renters.

Property Highlights​​

  • Turnkey Property

  • All 2Br + 1Ba Apartments! 2 Units Have Bonus Offices

  • Large Parking Area w/ 8 Tandem Spaces

  • Tastefully Renovated Interiors

  • Partial Copper Plumbing

  • Low Maintenance Property

  • Spacious Units Average 806 SF

  • Walk Score of 82 = Very Walkable

  • Walk to the Hottest Spots on Figueroa St

  • Amazing Location in Happening Highland Park, Where the Median Single Family Home Sells for Over $1.1M!

  • Close Proximity to Many Great Retail Stores, Coffee Shops, Bars, and Delicious Eateries

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