1223 N Avenue 56
Los Angeles, CA 90042
14 Beds10 Baths5,794 Sq Ft148 Days on Market
For Sale $2,320,000
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Courtesy of Compass
Listing Agent & Comments
1223 N. Ave 56 is a 10-unit, value-add property situated on a spacious 12,603 SF lot, just a block north of York Boulevardthe artistic heart of Highland Park. This vibrant area is home to popular spots like Kumquat Coffee, Block Party, The York, Joy, Collage Coffee, and more. Located only 1.5 miles from Occidental College, the property can serve as an off-campus housing option. Built in 1950 and 1953, this property consists of (4) 2-bdrm. units and (6) 1-bdrm. units spread across (3) 2-story buildings, and is currently 20% vacant, offering immediate leasing potential. The property is listed at $232,000 per unit, $184 per SF of land, with a 5.29% CAP rate and a 12.14 GRM based on current rents. This property presents a notable value-add opportunity, with approximately 57% rental upside. At projected market rents, it is expected to stabilize at a 10.19% CAP rate and a 7.54 GRM. Additional property features include automatic gated entry and nine surface tandem parking spaces. 1223 N. Ave 56 is available for individual purchase or as part of a portfolio with a 16-unit property located one mile away at 144 S. Ave 55. For more information, please contact LA1.
MLS# 24406869 • Data provided by CRMLS
Living Area | 5,794 Sq.Ft. |
---|---|
Lot Size | 0.3 Acres |
Total Rooms | -- |
Bedrooms | 14 |
Bathrooms | 10 |
Stories | 2 |
Year Built | 1950 |
Property Type | Multifamily |
Zoning | LAR1 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2024 |
Tax Amount | $18,995 |
Property in Flood Zone | -- |
Data provided by CRMLS.
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HouseCanary, Inc. Brokerage
1223 N Avenue 56, Los Angeles, CA 90042
Multifamily14 Beds10 Baths5,794 Sq Ft148 Days on Market
Listing Agent & Comments
1223 N. Ave 56 is a 10-unit, value-add property situated on a spacious 12,603 SF lot, just a block north of York Boulevardthe artistic heart of Highland Park. This vibrant area is home to popular spots like Kumquat Coffee, Block Party, The York, Joy, Collage Coffee, and more. Located only 1.5 miles from Occidental College, the property can serve as an off-campus housing option. Built in 1950 and 1953, this property consists of (4) 2-bdrm. units and (6) 1-bdrm. units spread across (3) 2-story buildings, and is currently 20% vacant, offering immediate leasing potential. The property is listed at $232,000 per unit, $184 per SF of land, with a 5.29% CAP rate and a 12.14 GRM based on current rents. This property presents a notable value-add opportunity, with approximately 57% rental upside. At projected market rents, it is expected to stabilize at a 10.19% CAP rate and a 7.54 GRM. Additional property features include automatic gated entry and nine surface tandem parking spaces. 1223 N. Ave 56 is available for individual purchase or as part of a portfolio with a 16-unit property located one mile away at 144 S. Ave 55. For more information, please contact LA1.
MLS# 24406869 • Data provided by CRMLS
Living Area | 5,794 Sq.Ft. |
---|---|
Lot Size | 0.3 Acres |
Total Rooms | -- |
Bedrooms | 14 |
Bathrooms | 10 |
Stories | 2 |
Year Built | 1950 |
Property Type | Multifamily |
Zoning | LAR1 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2024 |
Tax Amount | $18,995 |
Property in Flood Zone | -- |
Data provided by CRMLS.
We’ll connect you with top agents in your area.
This property is missing data for:
Comparable properties, forecast, rental estimate, and sale history
New
Do you own this home?
Access your homeowner dashboard
For Sale $2,320,000
Request tour
Save
Courtesy of Compass
1223 N Avenue 56
Los Angeles, CA 90042
14 Beds10 Baths5,794 Sq Ft148 Days on Market
Listing Agent & Comments
1223 N. Ave 56 is a 10-unit, value-add property situated on a spacious 12,603 SF lot, just a block north of York Boulevardthe artistic heart of Highland Park. This vibrant area is home to popular spots like Kumquat Coffee, Block Party, The York, Joy, Collage Coffee, and more. Located only 1.5 miles from Occidental College, the property can serve as an off-campus housing option. Built in 1950 and 1953, this property consists of (4) 2-bdrm. units and (6) 1-bdrm. units spread across (3) 2-story buildings, and is currently 20% vacant, offering immediate leasing potential. The property is listed at $232,000 per unit, $184 per SF of land, with a 5.29% CAP rate and a 12.14 GRM based on current rents. This property presents a notable value-add opportunity, with approximately 57% rental upside. At projected market rents, it is expected to stabilize at a 10.19% CAP rate and a 7.54 GRM. Additional property features include automatic gated entry and nine surface tandem parking spaces. 1223 N. Ave 56 is available for individual purchase or as part of a portfolio with a 16-unit property located one mile away at 144 S. Ave 55. For more information, please contact LA1.
MLS# 24406869 • Data provided by CRMLS
Living Area | 5,794 Sq.Ft. |
---|---|
Lot Size | 0.3 Acres |
Total Rooms | -- |
Bedrooms | 14 |
Bathrooms | 10 |
Stories | 2 |
Year Built | 1950 |
Property Type | Multifamily |
Zoning | LAR1 |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | 2024 |
Tax Amount | $18,995 |
Property in Flood Zone | -- |
Data provided by CRMLS.
We’ll connect you with top agents in your area.
This property is missing data for:
Comparable properties, forecast, rental estimate, and sale history
New
Do you own this home?
Access your homeowner dashboard
For Sale $2,320,000
Request tour
Save
Courtesy of Compass