Under contract

616 San Pascual Ave

Los Angeles CA, 90042

$3,700,000


$246.54 per sqft

Under contract

32 Beds

24 Baths

15,008 sqft

Multi-family

Built in 1965

** 4 Units Now DELIVERED VACANT - 9.29 GRM & 6.85% Cap Rate & $246/SF ** We are delighted to present a rare investment opportunity: a 16-unit mid-century complex located in one of Los Angeles' hottest neighborhoods Highland Park! Constructed in 1965, this offering consists of two adjacent buildings, each with eight townhome-style units. Each unit features 2 bedrooms and 1.5 bathrooms, with the entire property boasting approximately 15,008 SF of building space on a lot size of about 15,000 SF and on-site laundry facilities. Nestled in a residentially zoned community, the property offers abundant parking, which positions it well for strong market rental rates. For the astute investor, there is significant value-add potential with the possibility of adding up to four ADU units, with an estimated upside potential of approximately 89% (buyer to verify feasibility). The property is zoned RD1.5, with a completed soft-story retrofit and a Certificate of Compliance dated 04/23/2019. Strategically located in the vibrant epicenter of North East LA's Highland Park, tenants will enjoy proximity to the top retail corridors of York Blvd and Figueroa Street and easy access to South Pasadena and Pasadena. Disclosure: Buyers are advised to conduct all necessary due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, soft-story compliance, and the feasibility of constructing ADU(s) or additional units.** DO NOT DISTURB TENANTS OR WALK ON PROPERTY-DRIVE BY ONLY **

24-420683

MLS ID

July 29, 2024

Listed

October 3, 2024

Updated

Map

616 San Pascual Ave
Los Angeles CA, 90042

Interior Features

Total Stories

3


Bedrooms

32


Total Bathrooms

24


Appliances

Other


Laundry Description

Community


Fireplace

No


Cooling

Yes


Cooling Description

Wall/Window


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.34 Acres

Other Property Details

Area Name

Highland Park


Days on Market

65


Garage

No


Parking

Other


Parking Total

16


View

No


County

Los Angeles


Pool

No


Zoning

LARD1.5

Listing History

Date

Event

Price

10/2/2024

Under contract

9/16/2024

Price change

$3,700,000

-8%

Listed by Eric Dilanian with Remax Commercial and Investment Realty
Listing Contact: 213-233-4379 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Vanessa Withers shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/3/2024

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