* REDUCED | 14 Units in Highland Park 820 Chestnut Ave 14 Unit Apartment Building $2,295,000 ($163,929/Unit) 6.81% Cap Rate Los Angeles, CA 90042

** PRICE REDUCED ** New Metrics: $164K/Door, 9.16 GRM, 218/SF, 6.81% Cap Rate ** Eric Dilanian with The Dilanian Real Estate Advisors, as part of RE/MAX Commercial & Investment Realty, is proud to present a a rare 14-Unit opportunity in Highland Park – one of LA’s hottest and sought after sub-markets:
820 Chestnut Ave, a 14 Unit Mid-Century Building was built in 1959 and features a ±10,492 Square Foot building situated on large ±15,933 Square Foot Lot Feet, zoned RD1.5-1. The property offers an excellent unit mix consisting of eight (1+1) units, three (2+1) units, two (2+2), and 1 (0+1), with 2 UNITS DELIVERED VACANT.
Offered for sale for the first time in ± 17 years, the asset presents an excellent value-add opportunity with a compelling basis and potential to further enhance returns through rental upside and multiple ADU additions.
Ideally located in a quiet and quaint neighborhood, tenants will enjoy close proximity to LA’s top retail corridors of York Blvd and Figueroa Street and easy access to South Pasadena and Pasadena.
**DISCLOSURE:** Buyers are advised to conduct independent thorough due diligence, including but not limited to verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly.
**DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY **