1445 North Avenue 47 Los Angeles, CA $ 6,450,000
1445 North Avenue 47
$ 6,450,000
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1445 North Avenue 47

Los Angeles, CA, 90042
$ 6,450,000
Baths0.0 Sq 13,424

Monthly Estimate*

$ 42,869

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Studio

Multi-Family Home for sale in Los Angeles, CA

for $6,450,000. This 13,424 square foot home was built in 1963 on a lot size of 0.35.

Huge 550k Price Reduction! These 22 apartment units are an incredible investment opportunity cash flowing at a remarkable Current Cap Rate of 6% and 12 GRM from day one. Priced attractively at only $293k/door for fully renovated units, this property offers a significant upside potential to achieve an impressive 8% Cap Rate and 9.5 GRM on the proforma. This is a rare and excellent opportunity to acquire a turnkey apartment building with value-add potential in one of LA's hottest neighborhoods, Highland Park. The property features 12 fully renovated units with permits consisting of 8 units and 4 brand-new attached ADUs. Additionally, the parking soft-story retrofit has already been completed and all units are individually metered for gas and electricity, ensuring maximum efficiency in operation costs. The property features a diverse unit mix of 2 (2 bed/2 bath), 2 (2 bed/1 bath), and 18 (1 bed/1 bath) units. 13 units have been completely renovated with permits (1 vacant) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Notably, there are Preliminary Plans for 2 additional Detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The property is steps away from all the hip restaurants, bars, and shops on Famous York Blvd. With its vibrant lifestyle close to Downtown Los Angeles, Highland Park has fast emerged as one of the most sought-after areas in town. The neighborhood offers easy access to entertainment venues and cultural hotspots, making it an ideal spot for young professionals and creatives seeking an urban lifestyle with all amenities nearby. For investors looking for high-quality investments in prime locations that offer long-term value potential while tapping into current trends, this property ticks all the boxes. The apartments are well-appointed with modern finishes that have been carefully curated to cater to today's discerning tenants' needs and tastes whether they be millennials or older adults seeking community living spaces that provide convenience along with style at every turn. Overall, these apartments represent an excellent investment opportunity that investors should consider taking advantage of now before it's too late!

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Multi-Family Active

Price

$ 6,450,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

0.35

Year Built

1963

Town/City

Los Angeles

County/Region

Los Angeles

MLS | Web ID

0024392613

Features
General
Sewer None
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Zoning LARD3
Year Built 1963
Levels Two
County Los Angeles
Net Operating Income 386766.0
New Construction No
Property Type C
HOA / Comm Assn No
Status Active
City Los Angeles
Buyer Agent Compensation 2.50
Senior Community Y/N No
MLS Area 632 - Highland Park
Lot Size Square Feet 15030.0
Street Name Avenue 47
Standard Status Active
Buyer Agent Compensation Type %
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Interior
Kitchen Appliances Refrigerator
Total Stories 2
Air Conditioning Y/N Yes
Heating Y/N Yes
Total Baths 0
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Exterior
Lot Size Area 15030.0
Building Area Total 13424.0
Lot Size Acres 0.35
Lot Size Units Square Feet
Land Lease Type Fee
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* Excluded Features
List By
Armin Soleimani

Listing Agent

Global Platinum Properties, Inc.

Broker

Affordability Calculator

$42,869
Per Month
100%
0%
0%
Monthly Principal & Interest
$42,869
Monthly Property Taxes
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Monthly Home Insurance
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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/16/2024$6,450,000 Listed Price

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1445 North Avenue 47, Los Angeles, CA, 90042 is a Multi-Family Home for sale at $6,450,000 with 13,424 sqft and a lot size of 0.35. 1445 North Avenue 47 is a studio with 0.0 baths and was built in 1963. The property's zip code is 90042 which is in Los Angeles, CA