508 Chestnut Avenue, Los Angeles, CA 90042
-
Listed Price :
$1,450,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1961
Property Description
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.
Interior Features
Bedroom Information |
Bedrooms |
N/A |
Bathroom Information |
Bathrooms |
N/A |
Listing Information
Address |
508 Chestnut Avenue |
City |
Los Angeles |
State |
CA |
Zip |
90042 |
County |
Los Angeles |
Listing Agent |
Justin McCardle DRE #01895720 |
Courtesy Of |
Growth Investment Group Pasade |
List Price |
$1,450,000 |
Status |
Active |
Type |
Residential Income |
Subtype |
Apartment |
Structure Size |
N/A |
Lot Size |
7,508 |
Year Built |
1961 |
Listing information courtesy of: Justin McCardle, Growth Investment Group Pasade. *Based on information from the Association of REALTORS/Multiple Listing as of Apr 16th, 2024 at 7:59 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.