Description
We are pleased to present a twelve (12) unit apartment building located at 6423 Monterey Road in Los Angeles, California. The subject property is situated in a prime Highland Park location, south of Arroyo Seco Parkway and west of Pasadena Avenue. Built in 1966, this property contains a great unit mix of two (2) one bedroom / one bathroom units and ten (10) two bedroom / one bathroom units. Two (2) of the units feature wrap around decks, and one (1) unit is a penthouse. The spacious units all feature private balconies, tall ceilings, gas range stoves, dishwashers, and in-unit laundry hookups. Ten (10) units are rehabbed with new flooring and fixtures throughout, stainless steel appliances, designer bathrooms with stylish fixtures, floor to ceiling windows, and breakfast bars. The offering will be delivered with RTI plans for the soft-story retrofit and a one bedroom ADU that will not impact any parking for the current tenants. The property itself comes with full on-site parking and great landscaping. Residents will enjoy living in Los Angeles without feeling like they are in a highly urban space. Tenants are in immediate proximity of outdoor recreation at Arroyo Seco Park, located just behind the subject property. Just beyond the park, the -110 Freeway allows easy commuting access to major employers across Los Angeles. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor to acquire a turn-key property with positive initial cash flow and RTI plans to build an ADU.
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22BEDS
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0.25ACRES
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0BATHS
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01/2 BATHS
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10,168SQFT
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$489$/SQFT
School Ratings & Info
Description
We are pleased to present a twelve (12) unit apartment building located at 6423 Monterey Road in Los Angeles, California. The subject property is situated in a prime Highland Park location, south of Arroyo Seco Parkway and west of Pasadena Avenue. Built in 1966, this property contains a great unit mix of two (2) one bedroom / one bathroom units and ten (10) two bedroom / one bathroom units. Two (2) of the units feature wrap around decks, and one (1) unit is a penthouse. The spacious units all feature private balconies, tall ceilings, gas range stoves, dishwashers, and in-unit laundry hookups. Ten (10) units are rehabbed with new flooring and fixtures throughout, stainless steel appliances, designer bathrooms with stylish fixtures, floor to ceiling windows, and breakfast bars. The offering will be delivered with RTI plans for the soft-story retrofit and a one bedroom ADU that will not impact any parking for the current tenants. The property itself comes with full on-site parking and great landscaping. Residents will enjoy living in Los Angeles without feeling like they are in a highly urban space. Tenants are in immediate proximity of outdoor recreation at Arroyo Seco Park, located just behind the subject property. Just beyond the park, the -110 Freeway allows easy commuting access to major employers across Los Angeles. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor to acquire a turn-key property with positive initial cash flow and RTI plans to build an ADU.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-25T23:43:08.557. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.