281 S Avenue 52 24 Unit Apartment Building $4,208,888 ($175,370/Unit) 5% Cap Rate Los Angeles, CA 90042

Seth Polen of Lacy Real Estate is pleased to present the opportunity to acquire a 24-unit apartment community located in the highly desirable Highland Park neighborhood of Los Angeles. Built in 1961, the property consists of approximately 19,828 square feet of improvements situated on a 29,724 square foot lot. The unit mix includes 5 one-bedroom / one-bath units, 18 two-bedroom / one-bath units, and 1 two-bedroom / two-bath unit, offering a strong configuration that supports long-term tenant demand.
Residents benefit from the property’s proximity to Downtown Los Angeles via the 110 Freeway and convenient access to the Metro Gold Line, connecting Highland Park to South Pasadena, Pasadena, and DTLA. The property is also located near the vibrant Figueroa Street retail corridor, providing tenants with easy access to Highland Park’s popular restaurants, cafes, shops, and neighborhood amenities. Opportunities to acquire assets of this scale in Highland Park remain limited, as the neighborhood is largely built-out and new multifamily development remains constrained.