249 S Avenue 55
Los Angeles, CA 90042
The Avalon Highland Park · Multifamily Property For Sale
·
40 Units
Property Facts
| No. Units | 40 | Lot Size | 0.89 AC |
| Property Type | Multifamily | Building Size | 24,722 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1961 |
| Building Class | C | Parking Ratio | 1.62/1,000 SF |
| Zoning | RD2 | ||
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 24,722 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.62/1,000 SF |
| Zoning | RD2 |
Amenities
Unit Amenities
- Air Conditioning
- Stainless Steel Appliances
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
About 249 S AVENUE 55 , LOS ANGELES, CA 90042
The Kanner Group is proud to present The Avalon Highland Park at 249 S Ave 55—a 2-story, 40-unit, Mid-Century apartment building located in the heart of Highland Park—one of Los Angeles’ hottest sub-markets. Teeming with authentic Mid-Century charm, this extremely well-maintained asset features 40 secure parking spaces, an oversized center courtyard lined with beautiful, drought tolerant landscaping, a large pool with ample lounge areas and colorful accent murals/designer paint themes. The building features on-site laundry and is separately metered for gas and electric. The unit mix consists of 1 single (0+1), 33 one-bedroom, one-bath (1+1), and 6 two-bedroom, one bath (2+1) units. 28% of the units (11 in total) have been renovated to include beadboard ceilings, new kitchens, with modern cabinets, stainless steel appliances, quartz countertops, and remodeled bathrooms. This well-managed & located property offers a unique value-add opportunity for an investor looking to capitalize on significant 64% rental upside potential through continued, strategic capital improvements to appeal to the high-end tenant pool moving in to Highland Park.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 500 |
| 1+1 | 33 | - | 600 |
| 2+1 | 6 | - | 715 |
Property Taxes
| Parcel Number | 5468-028-027 | Improvements Assessment | $3,499,666 |
| Land Assessment | $8,092,979 | Total Assessment | $11,592,645 |
