Under contract
Active Under Contract
616 San Pascual Avenue
Los Angeles CA, 90042
$3,700,000
$246.54 per sqft
Under contract
Active Under Contract
32 Beds
24 Baths
15,008 sqft
Residential
Built in 1965
Listed by Eric Dilanian with Remax Commercial and Investment Realty 213-233-4379
** 4 Units Now DELIVERED VACANT - 9.29 GRM & 6.85% Cap Rate & $246/SF ** We are delighted to present a rare investment opportunity: a 16-unit mid-century complex located in one of Los Angeles' hottest neighborhoods Highland Park! Constructed in 1965, this offering consists of two adjacent buildings, each with eight townhome-style units. Each unit features 2 bedrooms and 1.5 bathrooms, with the entire property boasting approximately 15,008 SF of building space on a lot size of about 15,000 SF and on-site laundry facilities. Nestled in a residentially zoned community, the property offers abundant parking, which positions it well for strong market rental rates. For the astute investor, there is significant value-add potential with the possibility of adding up to four ADU units, with an estimated upside potential of approximately 89% (buyer to verify feasibility). The property is zoned RD1.5, with a completed soft-story retrofit and a Certificate of Compliance dated 04/23/2019. Strategically located in the vibrant epicenter of North East LA's Highland Park, tenants will enjoy proximity to the top retail corridors of York Blvd and Figueroa Street and easy access to South Pasadena and Pasadena. Disclosure: Buyers are advised to conduct all necessary due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, soft-story compliance, and the feasibility of constructing ADU(s) or additional units.** DO NOT DISTURB TENANTS OR WALK ON PROPERTY-DRIVE BY ONLY **
24420683
MLSⓇ ID
July 29, 2024
Listed
October 4, 2024
Updated
Map
616 San Pascual Avenue
Los Angeles CA, 90042
Interior Features
Total Stories
3
Bedrooms
32
Total Bathrooms
24
Laundry Description
Common Area
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.34 Acres
Other Property Details
Area Name
632 - Highland Park
Days on Market
65
Garage
No
Parking Total
16
View
No
County
Los Angeles
Pool
No
Zoning
LARD1.5
Listing History
Date | Event | Price |
---|---|---|
10/2/2024 | Under contract | — |
9/16/2024 | Price change | $3,700,000 -8% |
Listing Contact: 213-817-1000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/4/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 10/4/2024 at 4:43 AM UTC