Los Angeles, CA 90042,508 Chestnut Avenue
Los Angeles, CA 90042,508 Chestnut Avenue
Los Angeles, CA 90042,508 Chestnut Avenue
15
$1,350,000
$1,450,000
6.9%
Est.Price: ?

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3 BD
2 BA
7,508 Sqft Lot

508 Chestnut Avenue Los Angeles, CA 90042

Est. payment /mo
SOLD DATE : 07/10/2024

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Key Details

Sold Price $1,350,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

MLS Listing ID AR24076130

Sold Date 07/10/24

Bedrooms 3

HOA Y/N No

Lot Size 7,508 Sqft

Property Description

Look 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.
Look 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.

Location

State CA

County Los Angeles

Area Los Angeles (90042)

Zoning Assessor

Building

Story 2

Lot Size Range 7500-10889 SF

Level or Stories 2 Story

Others

Monthly Total Fees $81

Acceptable Financing Cash, Seller May Carry

Space Rent $1,239

Listing Terms Cash, Seller May Carry

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San Diego Regional MLS (SDMLS)
Listed by Justin McCardle • Growth Investment Group Pasade
Bought with Justin McCardle • Growth Investment Group Pasade

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Lindsay Shuman

Realtor | License ID: 01960302

+1(619) 339-1195

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