$1,450,000
508 Chestnut Avenue, Los Angeles 90042
3
Beds
2
Baths
7,508
Lot Size
6
# Of Units
Listing Agent
Justin Mccardle - Growth Investment Group PasadeLook 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.
Facts & Features
MLS® # | AR24076130 |
---|---|
Price | $1,450,000 |
Bedrooms | 3 |
Bathrooms | 2.00 |
Lot Size | 7,508 |
Year Built | 1961 |
Type | Residential Income |
Sub-Type | Apartment |
Status | Active |
# Of Units | 6 |
Community Information
Address | 508 Chestnut Avenue |
---|---|
Area | 632 - Highland Park |
City | Los Angeles |
County | Los Angeles |
Zip Code | 90042 |
Amenities
Parking Spaces | 3 |
---|---|
Parking | Carport, Driveway |
Garages | Carport, Driveway |
Is Waterfront | No |
Has Pool | No |
Pool | None |
Interior
Has Basement | No |
---|---|
Fireplace | No |
# of Stories | 2 |
Stories | Two |
Additional Information
Date Listed | April 16th, 2024 |
---|---|
Days on Market | 19 |
Zoning | LARD1.5 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Justin Mccardle |
---|---|
Office | Growth Investment Group Pasade |