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249 S AVENUE 55, Los Angeles, CA 90042

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249 S AVENUE 55
Los Angeles, CA 90042

For Sale: $10,500,000

Property Type: Commercial Apartments
MLS#: 18358074

  • Building Size: 24722 SF
  • Lot Size: 38863 SF
  • Number of Units: 40
  • Number of Stories: 2
  • Year Built: 1961
  • Days on market: 245
  • Cap Rate: 3.22
  • Net Operating Income: $337,953
  • Gross Scheduled Income: $588,485
  • Rent Control: No
  • GRM: 17.31
  • Contact Listing Agent Direct:
  • Matthew R. Kanner, Keller Williams Realty Los Fel

Property Description

249 S Ave 55 is a 2-story, 40-unit, Mid-Century apartment building located in the heart of Highland Park-one of Los Angeles' hottest sub-markets. Teeming with authentic Mid-Century charm, this extremely well-maintained asset features 40 secure parking spaces, an over-sized center courtyard lined with beautiful, drought tolerant landscaping, a large pool with ample lounge areas and colorful accent murals/designer paint themes. The building features on-site laundry and is separately metered for gas and electric. 28% of the units (11 in total) have been renovated to include beadboard ceilings, new kitchens, with modern cabinets, stainless steel appliances, quartz counter-tops, and remodeled bathrooms.

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249 S AVENUE 55, Los Angeles, CA 90042

Based on information from California Regional Multiple Listing Service, Inc. as of January 18, 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Listing provided by: Matthew R. Kanner, Keller Williams Realty Los Fel

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