1445 N Avenue 47, Los Angeles, CA 90042






Square feet


Lot Size


# Of Units

Listing Agent
Julio Ruiz - Global Platinum Properties, Inc.

Huge 625k Price Reduction! These 22 apartment units are an incredible investment opportunity cash flowing at a remarkable Current Cap Rate of 5.75% and 12.4 GRM from day one. Priced attractively at only $289k/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. 12 units have been completely renovated with permits (2 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!

Facts & Features

MLS® # 23330291
Price $6,375,000
Bedrooms 17
Bathrooms 15.00
Square Footage 13,424
Lot Size 15,030
Year Built 1963
Type Residential Income
Status Active
# Of Units 22

Community Information

Address 1445 N Avenue 47
Area 632 - Highland Park
City Los Angeles
County Los Angeles
State CA
Zip Code 90042


Parking Spaces 9
Parking None
Garages None
Is Waterfront No
Has Pool No


Appliances Refrigerator
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Has Basement No
Fireplace No
# of Stories 2
Stories Two

Additional Information

Date Listed November 8th, 2023
Days on Market 23
Zoning LARD3
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentJulio Ruiz
OfficeGlobal Platinum Properties, Inc.

Listing Map

Request a Showing

Provide a valid email address.
When would you like to view this property?