Kenny Stevens Team is pleased to offer for sale 255 S Avenue 55, a 10 unit, multifamily community located in Highland Park. The mid-century courtyard apartment is located in a prime location of Highland Park, one block to Figueroa Dining/Nightlife. The units average 750 sf and the unit mix consists of(9) 2 bedroom 1 bathroom units and (1) 1 bedroom 1 bathroom units. With a 8.5% apartment rent growth over 2017 in Highland Park and a 27% upside in rents for the unrenovated units this is great value-add investment for any buyer.
6024 Monterey Road
255 S Avenue 55, Highland Park
Property Details.
Price $3,300,000
Year Built 1962
# of Units 10
Price P/ Unit $330,000
Sq. ft. 7,538
Price p/ Sq. ft. $438
Current Cap Rate 5.03%
Proforma Cap Rate 6.45%
Lot Size 11,900
Zoning LARD2
255 S Avenue 55
Los Angeles, CA 90042
Los Angeles, CA 90042
