281 S Ave 52 Highland Park CA 90042

Description:

281 S. Avenue 52 is a 24‑unit apartment community in Highland Park offering an immediate 5.22% in‑place cap rate with significant upside from below‑market rents.  The four‑building, courtyard‑style property features a strong unit mix of mostly two‑bedroom units, 26 on‑site parking spaces, on‑site laundry, and a completed soft‑story retrofit on a 0.68‑acre LARD2 site.


Located just south of Figueroa and minutes from the 110 Freeway, the property offers quick access to Downtown Los Angeles, South Pasadena, and Pasadena, plus the Metro A Line at Highland Park Station.  The immediate area is walkable to neighborhood retail, restaurants, and nightlife along Figueroa and York, in a renter‑dominant submarket with median household income near $95,000 and a median home value over $1.1 million.



•    24 Unit Apartment Community Highland Park
•    Priced at $4,088,888 | $170,370/unit | $206/SF with 5.22% current cap and 9.70 current GRM. [Attachment]
•    .68AC Zoned LARD2, four‑building courtyard layout, 26 on‑site parking spaces, and completed soft‑story seismic retrofit.
•    Strong rent growth story with rent comps averaging $1,953/unit and $2.70/SF versus subject’s in‑place levels