Look no more! We are proud to present this charming 6-unit apartment building, which includes a Single-Family House in front and 5 apartments in the rear. This Highland Park complex presents a lucrative value-add investment opportunity in a prime location. The property has a desirable layout that contributes to ease of management and operational efficiency, making the property a great addition to first time investors or seasoned owners adding to the portfolio. The SFR in the front is 2 bed / 1 bath, and all the units in the back building are 1 bed / 1 bath. This asset is individually metered for gas / electricity and has individual water heaters in each unit. This Value-Add property has 40% upside in rents, and Highland Park has seen significant growth over the last 10 years and shows no sign of slowing down! This market attracts a diverse demographic, including young professionals, families, and students, ensuring consistent demand for rental units. The property offers a commuter friendly location with a short distance to the 110 fwy and close to the Highland Park & South Pasadena Metro Gold line stop. Property was built in 1940 & 1961.
MLS #
CRAR24076130
MLS Source
California Regional MLS
Days on Site
22
Buyer's Brokerage Compensation*
2.00
Garage/Parking
Carport, Other, Garage: 0 Car(s)
# Buildings | # Leased Units | # Total Units |
---|---|---|
1 | – | – |
508 Chestnut Ave is a Residential Income in Los Angeles, CA 90042. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,450,000 and was built in 1961.
This address can also be written as 508 Chestnut Ave, Los Angeles, CA 90042.©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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This listing information is up-to-date as of April 16, 2024. For the most current information, please contact Justin McCardle, (909) 486-2069