1337 South Highland Avenue

Los Angeles, CA 90019

$1,250,000
Price
8
Beds
8
Baths
6,256 Sq. Ft.
$200 / Sq. Ft.
6,256
Sq. Ft.
$200
per Sq. Ft.

Description

The garden style asset, 1337 S. Highland Avenue, is comprised of two adjacent apartment buildings with a total of eight units situated in the diverse Mid City neighborhood of Los Angeles. The asset boasts eight tandem parking spaces located directly in front of the property. The unit mix consists of eight large, well-designed one-bedroom / one bathroom units that include outdoor space for added convenience and appeal. The low price per unit establishes a strong initial investment basis, making it...The garden style asset, 1337 S. Highland Avenue, is comprised of two adjacent apartment buildings with a total of eight units situated in the diverse Mid City neighborhood of Los Angeles. The asset boasts eight tandem parking spaces located directly in front of the property. The unit mix consists of eight large, well-designed one-bedroom / one bathroom units that include outdoor space for added convenience and appeal. The low price per unit establishes a strong initial investment basis, making it attractive for buyers looking to maximize their return. Notably, the property has a significant potential upside in rents, indicating substantial room for income growth and increased profitability via bringing down operational expenditures. This property offers a compelling value add investment opportunity to new ownership. The neighborhood is located in the city's central region, between Hancock Park and Miracle Mile, and is bordered by West Third Street, LaBrea Avenue, Wilshire Boulevard, Crenshaw Boulevard, Pico Boulevard, and Fairfax Avenue. Sold as-is. Subject to court approval and overbid
  1. Listed by Douglas Steinriede • DRE #00284936 • Brokerage DRE #00284936 • Dover Management Corp.

Property Details for 1337 South Highland Avenue

Zoning
LAR3
Cross Streets
S Highland Avenue and W Pico Boulevard
Parcel Number
5070001008
Total Units
8.0
Living Area
6256
Source Living Area
Vendor Enhanced
Area
Hancock Park-Wilshire
Vacancy Rate
3%
LISTING UPDATED: 11/22/2024 01:45 PM

Property Details for 1337 South Highland Avenue

StatusActive
MLS #24-453401
Days on Market103
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.21 AC / 8,998 SF
CountyLos Angeles County

Building Information for 1337 South Highland Avenue

Stories-Residences-Year Built1928Building Size-Lot Size0.21 AC / 8,998 SF

Property Information for 1337 South Highland Avenue

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is, Court Approval Required, Trust/Conservatorship, Subject To Other
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $90,606
  • Net Operating Income: $39,152.00
  • Gross Income: $93,408
  • Gross Rent Multiplier: $13.38
  • Total Annual Expense: 51454
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2066
  • Lot Size Square Feet: 8998
Parking Details
Parking Details
  • Parking Garage: Uncovered
  • Total Parking: 0
  • Parking Features: Uncovered
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-15-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $973.00
  • Unit Actual Rent: $7,784.00
  • Unit Projected Rent: $17,600.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $52,990.00
  • Assessed Improvement Percent: 59.53
  • Assessed Land Value: $36,021.00
  • Assessed Land Percent: 40.47
  • Assessed Total Value: $89,011.00

Property History for 1337 South Highland Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1337 South Highland Avenue

Taxable ValueLand$36,741Additions$54,049Total$90,790
Tax Record2024$2,338 ($195 / month)
Home Facts
Total Finished SqFt6,256 SqFtAbove Grade Finished SqFt6,256 SqFtLot Size8,995 SqFtStyleMulti-Family Res (5+ Units)Year Built1928ZoningLAR3CountyLOS ANGELESAPN5070-001-008

Schools near 1337 South Highland Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Saturn Street Elementary School
PublicK to 5

Emerson Community Charter School
Charter6 to 8

Los Angeles Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1337 South Highland Avenue is a multi-family home for sale in Los Angeles, CA 90019. This property was listed for sale on August 11, 2024 by Dover Management Corp., it's currently listed at $1,250,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Saturn Street Elementary School, Emerson Community Charter School and Los Angeles Senior High School. 1337 South Highland Avenue is a 8-bed, 8-bath, 6,256 sqft multi-family home built in 1928.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Dover Management Corp., Douglas Steinriede, DRE #00284936

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.