281 S Avenue 52 24 Unit Apartment Building $4,088,888 ($170,370/Unit) 5.22% Cap Rate Los Angeles, CA 90042

Seth Polen of Lacy Real Estate is pleased to present a rare 24-unit multifamily investment opportunity in the heart of Highland Park. Situated on an expansive ±29,724 SF lot (±0.68 AC), the property offers investors a compelling combination of scale, long-term upside, and existing infrastructure improvements in one of Northeast Los Angeles’ strongest rental submarkets.
Built in 1961, the property consists of approximately 19,828 SF across four buildings with an attractive unit mix of 18 two-bedroom / one-bath units, 5 one-bedroom / one-bath units, and 1 two-bedroom / two-bath unit. The predominately two-bedroom configuration continues to support strong tenant demand and long-term rental growth fundamentals.
The asset presents a significant value-add opportunity through continued rental repositioning, operational improvements, and potential future ADU opportunities. Major ownership improvements include completed seismic retrofit work, updated electrical sub-panels, pool perimeter fencing, and roof coating improvements.
Located near the 110 Freeway, Metro A (Gold) Line, York Boulevard, and the Figueroa retail corridor, the property benefits from immediate access to Highland Park’s evolving restaurant, retail, and lifestyle amenities while maintaining strong connectivity to Downtown Los Angeles, Pasadena, and surrounding Northeast LA neighborhoods.
Opportunities to acquire a 24-unit asset on nearly 0.68 acres in Highland Park remain exceptionally limited.