For more information on this property, contact Nancy Sanborn at 310-777-2858 or [email protected]

232 N Avenue 53
Highland Park, California CA 90042
Price: $4,800,000
Listing ID SR20003757
Status Active
SqFt 11,175
Acres 0.264
Year Built 1930

Property Description:

Artisan Apartments is a substantially renovated 16-unit apartment complex located in a gentrified part of Highland Park, a lovely neighborhood in the San Rafael Hills of Los Angeles, California. Set on a 11,486 square foot lot, the 11,175-square-foot property built in 1930 is undergoing substantial renovations and features phenomenal rental upside. This ideal locale also allows easy freeway access to the 110 Arroyo Seco Parkway. The subject property currently offers 5 studios, 10 one-bedrooms and 1 two-bedroom, however after renovations are complete, there will be 12 one-bedrooms and 4 two-bedrooms. Note the owner pays for electricity for the unrenovated units.

Primary Features

County: Los Angeles
Lot Features: Front Yard, Garden, Landscaped
MLS Area Major: 632 - Highland Park
Special Listing Conditions: Standard
Year Built: 1930
Zoning: LARD1.5

Additional

Association: no
Community Features: Foothills, Hiking, Urban
Land Lease: no
Laundry Features: Common Area
Laundry: yes
Lot Size Source: Assessor
Lot Size Units: Square Feet
Number Of Separate Electric Meters: 17
Number Of Separate Gas Meters: 17
Number Of Separate Water Meters: 1
Number Of Units Total: 16
Other Expense Description: Misc.
Property Attached: yes
Senior Community: no
Tax Block: 6
Tax Lot: 4
Tax Tract Number: 1
Vacancy Allowance: 8537
Water Source: Public
Year Built Source: Assessor

Interior Features

Common Walls: 2+ Common Walls
Levels: Two
Stories Total: 2

Financial Details

Cap Rate: 3.3
Electric Expense: 6299
Fuel Expense: 3373
Gross Income: 284564
Gross Multiplier: 16.8
Gross Scheduled Income: 284564
Insurance Expense: 6447
Maintenance Expense: 18574
Net Operating Income: 155841
New Taxes Expense: 60000
Operating Expense: 120186
Other Expense: 1200
Pest Control Expense: 876
Rent Control: yes
Total Expenses: 120186
Trash Expense: 2776
Water Sewer Expense: 14000

External Features

Lot Size Area: 11486
Lot Size Square Feet: 11486
Number Of Buildings: 1
Parking Features: Assigned
Parking Total: 12
Parking: yes
Pool Features: None
Private Pool: no
Sewer: Public Sewer
Uncovered Spaces: 12

Location Information

Country: US

Zoning Info


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Based on information from CARETS as of Saturday, July 4th, 2020 09:55:13 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

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Contact

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Nancy Sanborn

131 S. Rodeo Dr. Suite 100
Beverly Hills, CA 90212
Phone: 310-777-2858

Data services provided by IDX Broker
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