INVESTMENT HIGHLIGHTS
• Superb location within minutes to all amenities Highland Park has to offer; Walk Score 83
• High Actual CAP Rate with ±7% Cash-on-cash return on a 35% down payment!
• Superb area amenities, within walking distance to some of the best restaurants/attractions in Highland Park: Highland Park Bowl, Hippo, Otono, Cafe Birdie, ETA, Go Get Em Tiger, Highland Park Theatres, etc.
• Nearby Highland Park Station (light rail), Highland Park Farmers Market, Figueroa St and York Blvd retail corridors!
• Top-down renovation with modern upgrades while retaining the charming characteristics of 1920s construction
• Superb access to Downtown Los Angeles via FWY 110; minutes to FWY 2, FWY 134 and FWY 210
• Currently gentrifying area with many new developments in the immediate area
• Arguably located in one of the best locations in Highland Park!
PROPERTY HIGHLIGHTS
• Excellent unit mix with 3-bedroom and 2-bedroom units!
• Open concept unit layout with modern upgrades and 1920’s charm
• Individually Metered for Gas/ Electricity
• Amenities: gated parking, secured entry, front porch, private garden area, front yard, in-unit laundry, stainless steel appliances, upgraded unit
• Full occupancy with good tenants
• Back building is a single-story bungalow style duplex with front porch and desirable layout
• ZERO soft story parking retrofit required
EXECUTIVE SUMMARY
The Growth Investment Group is proud to offer THE ABBOTT - 400 North Avenue 54, Highland Park. A turn-key, beautifully upgraded and charming 6-unit apartment community located in the gentrified neighborhood of Highland Park, CA. The property is strategically located across the street from Monte Vista Elementary School and within minutes to Highland Park Metro Station, Figueroa Street and York Boulevard retail corridors. It is also within minutes to the well-known Occidental College in Eagle Rock. It has superb access to Downtown Los Angeles via FWY 110, and minutes to FWY 2, FWY 134 and FWY 210. The property offers an investor the rare opportunity to own an excellent real estate in a strong and gentrifying submarket nearby downtown Los Angeles.
The property is situated on a quiet, residential street surrounded by single family residential and apartment communities. It consists of 2 buildings that are separated by a beautifully maintained center garden. The buildings, all of which have been completely renovated, offer a superb mix of 3-bedroom and 2-bedroom units.
All of the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades, open space layout, new high durability wood vinyl and tile flooring, new windows, new kitchens, which include new cabinets, quartz countertops, and new stainless steel appliances, and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. It retains its 1920s charm with wall paneling, high ceiling, and bay-view windows.
The property is situated on a large 10,136 SF lot and a superb unit mix of one (1) 3bed+1bath, and five (5) 2bed+1bath units. It is separately metered for electricity and gas. Each unit is spacious and offer an in-unit combo washer/dryer, stove, dishwasher, garbage disposal, ample closet and storage space, ceiling fans, high ceiling, etc.
