8 Huge Units in Prime Highland Park

$2,640,000

5927 & 5931 Benner St.

# of Units: 8

GRM: 14.29*

CAP Rate: 4.80%*

Price/SF: $364

Building SF: 7,256

Lot SF: 11,199

Zoning: LARD2-1

Year Built: 1964

Description

Welcome to your next best investment. This is a very special opportunity to acquire two prized turnkey properties in prime Highland Park!  

 

Extremely rare offer to acquire eight (8) spacious units in prime Highland Park!  These are ideal properties to reposition into modern, highly amenitized buildings that attract the top paying tenants flocking to the area and seeking a fun, comfortable and hip Highland Park living experience. Built in 1964, the properties feature eight (8) 2BD+1BA units with an average size of 907 SF. This offering is comprised of two sister buildings (two separate APNs) with four (4) units each that share a gated driveway and parking. There are (8) attached carport spots at the rear of the buildings. Additionally, various systems and cosmetic upgrades have been completed throughout the buildings and their units. To top it all off, four (4) units (two per building) will be delivered vacant. *GRM, Cap Rate, & NOI are based on Pro Forma Rents due to current vacancies.

Location

Prime Highland Park location on a double lot near the 110 Fwy off of S Avenue 60. Subject properties are just a few blocks from Figueroa St, which is a hot spot for popular dining and shopping such as Highland Park Bowl and the Highland Theatre, and recreational areas such as Hermon Park and Ernest Debbs Park. Convenient 110 Fwy access also helps with commuting to DTLA. The subject properties are located on a quiet stretch of Benner with very little traffic as the street is solely residential. Subject properties have eight (8) carport spots as well as ample street parking to accommodate tenants and their guests. Once inside the properties, tenants can relax comfortably while unwinding in the bright, spacious and upgraded units.

Property Highlights

  • 8 Units | 7,256 SF | 11,199 SF Lot

  • Amazing Highland Park location near most popular blocks on Figueroa St.

  • 1/2 mile to Highland Park Gold Line Station.

  • Less than 1/2 mile to the best shopping, dining & entertainment on Figueroa.

  • 4 units delivered vacant (2 units fully remodeled)

  • Built in1964 | Zoned LARD2-1

  • Opportunity to own (2) sister buildings with separate APNs adjacent to each other.

  • Potential for long term residential financing.

  • All 2BD + 1 Bath apartments.

  • Units Average 907 SF each + large patios.

  • Shared gated driveway to rear parking (8 carport spaces)

  • Onsite laundry room.

  • No soft story retrofitting required.

  • 100% copper plumbing and upgraded electrical, brand new exterior paint, landscaping, etc.

Please Send Me More Infomation On This Listing
Call Me Today!

Tel: 310.562.9630 

Email: DMendez@kw.com

DRE #: 01746702

IncomePropertiesLA.com

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