Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

5

Building size

3,720 sqft

Lot size

5,467 sqft

Year built

1965

Stories

0

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Status

Active

Days on market

0

MLS #

249182162

About this property

We are pleased to present 138 San Pascual Avenue, an exceptional 5-unit mid-century multifamily investment opportunity located in a desirable pocket of Highland Park, one of Northeast Los Angeles' most sought-after rental markets. Originally constructed in 1965, the property features an excellent unit mix of (4) 2-bedroom units and (1) 3-bedroom unit, encompassing approximately 3,720 square feet of living space on a 5,467-square-foot lot zonedRD1.5. The property presents a compelling value-add opportunity for investors seeking to capitalize on significant rental upside in a highly desirable Los Angeles submarket. With existing rents substantially below market levels, the asset offers approximately 153% remaining rental upside, providing considerable potential for long-term income growth and value appreciation. Additionally, the property may offer the opportunity to construct an accessory dwelling unit(ADU), further enhancing its income-generating potential (Buyer to Verify). The building also benefits from several notable capital improvements, including a roof updated in 2023, a completed soft-story seismic retrofit in 2020, and mini-split air conditioning systems installed in select units. Ideally situated just minutes from Highland Park's vibrant York Boulevard and Figueroa Street retail corridors, the property offers convenient access to an abundance of popular restaurants, cafes, boutiques, and neighborhood amenities. Its strategic location also provides excellent connectivity to South Pasadena, Downtown Los Angeles, and surrounding Northeast LA communities. With its desirable unit mix, significant rental upside, completed capital improvements, and prime Highland Park location, 138 San Pascual Avenue presents an outstanding opportunity for investors to acquire a well-positioned multifamily asset with substantial long-term value-addpotential in one of Los Angeles' most desirable rental markets.DISCLOSURE: ** Buyers are advised to conduct independent, thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legalbedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly.**DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY **

Location

138 San Pascual Avenue

Los Angeles, Los Angeles, CA, 90042