We are pleased to present for sale a charming 5 Unit, value-add multifamily building with a nearly FLAT 19,367 Square Foot Lot in one of LA's Hottest Locations - Highland Park! The property appeals to an astute apartment investor looking to add significant value by unit renovations as well as potential ADU developments. There is approximately 116% upside potential by renovating two (3 Bedroom and 1 Bathroom Units) and 3 (1 Bedroom and 1 Bathroom Units). Market GRM of 9.41 and Market Cap Rate of 7.95%. There are 3 individual structures on the site allowing for above market rents. The property is zoned RD2-1 and is located in Highland Park's Historic Preservation Overlay Zone (HPOZ) and in a Tier 3 Transit Oriented Community (TOC). Buyer to conduct ANY/ALL due diligence including but not limited to the development feasibility, HPOZ limitations, historical preservation, contributing status of property/structures, etc. PLEASE DO NOT DISTURB TENANTS!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
