We are pleased to offer for sale an eight unit apartment community located at 5611 Huntington Drive North. It is uniquely positioned in the exciting, up-and-coming North East Los Angeles submarket, which is proximate to Highland Park, Echo Park, Silverlake, and Downtown Los Angeles to the West; Arcadia to the East; Monterey Park to the South; and South Pasadena to the North. The property is ten minutes North East of the USC Medical Center and fifteen minutes North East of Downtown Los Angeles, which strategically positions the asset in proximity to strong employment drivers. Situated on a 13,985 square foot parcel, the property comprises of four one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units. The property offers an investor the opportunity to acquire a rare value-add asset in an emerging market that seldom trades. The investor may utilize a renovation strategy to unlock the 71% rental upside the asset offers. This area is predominately comprised of attractive single-family homes and is surrounded by increasingly popular restaurants and retail, which draws a wide range of creative professional tenants. Its proximity to USC Medical Center and the Biotech Corridor also draws many researchers, students, and young professionals. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate remaining units and achieve superior future returns make this asset a strong acquisition opportunity.

Listed By CRMLS_CA / Sean Rosenzweig / Marcus & Millichap

Last checked: Checking… • Last updated Mar 14, 2023 • Source: CRMLS_CA

MLS# 22134151 — Report a problem