$1,750,000
$1,850,000
5.4%For more information regarding the value of a property, please contact us for a free consultation.
501 N Avenue 50 Los Angeles, CA 90042
15 Beds
11 Baths
7,580 SqFt
Key Details
Sold Price $1,750,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,580 sqft
Price per Sqft $230
MLS Listing ID 24-344269
Sold Date 05/22/24
Bedrooms 15
Construction Status Fixer
Year Built 1922
Lot Size 0.275 Acres
Acres 0.2747
Property Description
We are pleased to present an eleven (11) unit apartment building located at 501 North Avenue 50 in Los Angeles, California. The subject property is situated in a prime Highland Park location, north of Figueroa Street and southeast of El Paso Drive. Built in 1922, this property contains a great unit mix of one (1) studio / one-bathroom unit, seven (7) one-bedroom / one-bathroom units, and three (3) two-bedroom / one-bathroom units. This gated, courtyard style property features character, Spanish accents that makes the building look and feel like a bungalow community. There is alley access at the rear of the property with secure access to ample on-site parking. There is potential to add multiple ADU unit(s) to the storage areas or to the parking lot. Tenants will love living just down the street from Figueroa, a trendy and historic thoroughfare considered as the core of Highland Park. Some of the notable amenities include Highland Park Bowl, Most Likely Highland Park, The Greyhound Bar, Civil Coffee, Lodge Room, and ETA Oyster Bar. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor capitalize on strong rental upside at a low price point in one of the trendiest markets of Los Angeles.
Location
State CA
County Los Angeles
Area Highland Park
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Air Conditioning
Equipment Built-Ins
Exterior
Garage Gated, Uncovered
Garage Spaces 11.0
Pool None
View Y/N Yes
View City
Building
Lot Description Single Lot
Story 2
Level or Stories Two
Construction Status Fixer
Others
Special Listing Condition Standard
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Bought with Marcus & Millichap
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Broker | License ID: DRE#01976964