281 S Ave 52 Highland Park CA 90042
$3,998,888
281 South Avenue 52, Los Angeles, CA 90042
5.34
Cap Rate
214,850
NOI
Details:
Highlights:
- 26 on-site parking spaces (incl. covered carports)
- Soft-story seismic retrofit completed
- On Site Laundry Facility Providing Additional Income; ADU Potential
- 5 One Bedroom Units, 18 Two Bedroom Units, 1 Two Bedroom / Two Bath Unit
- 19,828 SF of Improvements on a 29,724 SF Lot (.68AC)
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 $3,998,888 | $166,620/unit | $206/SF with 5.34% current cap and 9.48 current GRM.
• .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
Documents:
| Title | ||
|---|---|---|
| 281 S Ave 52 Numbers Page and Rent Roll |
Location
Gallery
