144 S Avenue 55 is a well-maintained 16-unit courtyard-style property located 1 block south of Figueroa St, the commercial hub of Highland Park. Notable tenants of this lively hub include Highland Park Bowl, Go Get ‘Em Tiger, Mendocino Farms, Highly Likely, Blind Barber and more. In addition, the property is approx. 2 miles from Occidental College, and could potentially be an off-campus student housing option. Built in 1961, this courtyard-style property features (3) 2-bdrm. units & (13) 1-bdrm. units. Please note, there is a VACANT 2-bdrm. unit. The property presents a substantial value-add opportunity with approx. 60% rental upside. At projected market rents, the property will stabilize at a 8.34% CAP and 9.01 GRM. 144 S. Avenue 55 can be purchased individually or in conjunction with a 10-unit property, located 1 mile away (1223 N. Avenue 56). View our remaining active listings here.
