We are proud to present the opportunity to purchase 500 Chestnut Avenue, a 20-unit multifamily community in the Highland Park submarket of Los Angeles County.
500 Chestnut Avenue is located in the Northeast region of Los Angeles County, adjacent to popular affluent neighborhoods like South Pasadena, Pasadena, and Glendale. Highland Park is one of LA’s fastest growing rental markets and highly sought after by young professionals and creatives. The property enjoys immediate access to the 110 freeway – connecting to freeways 210, 10, 5, and 101 allowing convenient commutes to DTLA, San Fernando Valley, and San Gabriel Valley. Nearby attractions include The Rose Bowl, Huntington Library, Pasadena’s Playhouse Village, Dodger Stadium, Glendale Galleria, and much more. Cal State University of LA is also located within 6 miles of the property.
Additionally, the property is located just blocks from heavy retail corridors on York Blvd, Figueroa Street, and a short drive to heavy retail corridors in Pasadena. Some local retailers include Trader Joes, Starbucks, CVS, Smart & Final, and several chain and boutique restaurants. Also within a short 10-minute drive are several schools, parks, medical facilities, and big box retailers.
500 Chestnut Avenue is a 2-story garden-style multifamily community - offering approximately 16,840 SF of rentable living space spanning across approximately 30,000 SF of land. The property features 8, 1-bedroom/1- bathroom units, 5, 2-bedroom/1-bathroom units, and 7, 2-bedroom/1.5-bathroom units averaging 619, 860, and 900 square feet, respectively.
Tenants in the community enjoy amenities such as secured gated access, ample on-site parking, an on-site laundry facility, access to on-site management, open space, and well-maintained matured landscaping. Select units feature renovated floorplans that include amenities like new hardwood-like flooring, foot moldings, recessed lighting, quartz countertops, newer kitchen cabinetry, kitchen appliances, upgraded bathrooms with vanity lighting and tiled shower walls, hallway storage, walk-in closets, mirrored closet doors, ceiling fans, wall AC units, and more.
