144 S Avenue 55, Los Angeles, CA 90042

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Property Description

*** $125,000 price reduction **** 144 S. Avenue 55 is a well-maintained 16-unit courtyard-style property located 1 block south of Figueroa St, the commercial hub of Highland Park. Notable tenants of this lively hub include Highland Park Bowl, Go Get 'Em Tiger, Mendocino Farms, Highly Likely, Blind Barber and more. In addition, the property is approx. 2 miles from Occidental College, and could potentially be an off-campus student housing option. Built in 1961, this courtyard-style property features (3) 2-bdrm. units & (13) 1-bdrm. units. Please note, there is a VACANT 2-bdrm. unit. The property presents a substantial value-add opportunity with approx. 78% rental upside. At projected market rents, the property will stabilize at a 8.34% CAP and 9.01 GRM. 144 S. Avenue 55 can be purchased individually or in conjunction with a 10-unit property w/ approx. 60% rental upside, located 1 mile away (1223 N. Avenue 56). Please contact LA1 for more info.


Interior Features

Laundry Information
Location(s) Common Area, Laundry Room
Bedroom Information
Bedrooms 19
Bathroom Information
Bathrooms 16
Interior Information
Cooling Type Wall/Window Unit(s)

Listing Information

Address 144 S Avenue 55
City Los Angeles
State CA
Zip 90042
County Los Angeles
Listing Agent Kenny Stevens DRE #01090251
Courtesy Of Compass
List Price $3,825,000
Status Active
Type Residential Income
Structure Size 11,048
Lot Size 15,910
Year Built 1961

Listing information courtesy of: Kenny Stevens, Compass. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:51 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.