327 South Ave 57

Los Angeles, CA 90042

$1,100,000
Price
7
Beds
4
Baths
2,898 Sq. Ft.
$380 / Sq. Ft.
2,898
Sq. Ft.
$380
per Sq. Ft.

Description

A unique opportunity to own a 4-unit income property in trendy Highland Park, close to Figueroa, and walkable to Highland Park Bowl, HomeState restaurant, Civil Coffee & Mendocino Farms. This property sits on a spacious 5,048 Sqft. lot that is zoned LARD 1.5 with a 42’x120’ dimension. The property consists of: (3) two beds & one bath; (1) one bed & one bath. Two of the 2 bed/1 bath units are approx. 750 sf and another is approx. 700 sf, with the one bedroom being around 600 sf. However, the 1 bed...A unique opportunity to own a 4-unit income property in trendy Highland Park, close to Figueroa, and walkable to Highland Park Bowl, HomeState restaurant, Civil Coffee & Mendocino Farms. This property sits on a spacious 5,048 Sqft. lot that is zoned LARD 1.5 with a 42’x120’ dimension. The property consists of: (3) two beds & one bath; (1) one bed & one bath. Two of the 2 bed/1 bath units are approx. 750 sf and another is approx. 700 sf, with the one bedroom being around 600 sf. However, the 1 bed unit’s adjoining large laundry room is perfectly sized for an easy bedroom conversion to a 2 bed 1 bath in order to increase the rent in the future. With unit #3 being vacant now – it’s a great opportunity for an owner occupant to move-in, a family member, or to improve the unit and bring aboard a new tenant. The shared driveway allows each unit to access its one-car private carport space in the rear of the building, which may have the space for a potential ADU add-on above the four parking spots. This is a great value add-on opportunity for an investor to fix and renovate for a buy and hold or to flip. Additionally, the location offers convenient freeway access and proximity to Downtown LA, Pasadena, and the Metro Gold Line, making it ideal for those seeking the best of urban living in Highland Park. Whether for investment or personal use, this property offers a fantastic opportunity in one of the city's hottest neighborhoods. Seller may consider financing a carry-back loan with a qualified buyer and optimal terms.
  1. Listed by Levon Arzumanyan • DRE #01836944 • Brokerage DRE #01904054 • The Agency - Studio City • 213-414-8088
  2. Listed by Sevan Baroni • DRE #01804043 • Brokerage DRE #02030759 • NextHome Luxe Group

Property Details for 327 South Ave 57

View
None
Parking Spaces Total
4
Private Pool
No
Cooling Type
Wall/Window
Total Units
4.0
Lot Size Source
Assessor
Property Attached YN
true
Common Walls
2+ Common Walls
LISTING UPDATED: 10/08/2024 08:11 AM

Property Details for 327 South Ave 57

StatusActive
MLS #GD24186749
Days on Market52
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.12 AC / 5,048 SF
CountyLos Angeles County

Building Information for 327 South Ave 57

Stories2Residences-Year Built1955Building Size-Lot Size0.12 AC / 5,048 SF

Property Information for 327 South Ave 57

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Other, Trash Collection
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $67,627
  • Net Operating Income: $35,010
  • Laundry Income: $0
  • Gross Multiplier: 16.27
  • Cap Rate: 3.18
Expense Details
  • Operating Expense: $32,617
  • New Taxes Expense: $13,914
  • Gardener Expense: $0
  • Cable TV Expense: $0
  • Fuel Expense: $1,498
  • Licenses Expense: $214
  • Pest Control Expense: $0
  • Pool Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $1,823
  • Professional Management Expense: $3,912
  • Other Expense: $5,490
  • Other Expense Description: Repairs
  • Trash Expense: $1,910
  • Water Sewer Expense: $3,856
  • Supplies Expense: $0
  • Total Expenses: $32,617
Tax / Assessment Info
  • Tax Block: 10
  • Tax Tract Number: 37
  • Tax Census Tract: 1837.01
  • CFD/Mello-Roos Fee: $457
  • Tax Lot: 14
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Gas Range, Refrigerator
  • Laundry: Yes
  • Laundry Features: Common Area
  • Fireplace Features: None
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
  • Flooring: Laminate
Exterior Features
  • Security Features: Window Bars
  • Security: Security Bars
  • Construction Materials: Stucco
  • Exterior: Stucco
  • Roof: Rolled/Hot Mop, Shingle
  • Entry Location: 1
  • Fence: Yes
  • Fencing: Chain Link
  • Property Condition: Fixer
  • Pool Features: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Land Lease: No
  • Road Surface Type: Paved
  • Levels: Two
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Carport Spaces: 4
  • Parking Features: Carport
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,622
  • Unit Type Total Rent: $1,622
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,010
  • Unit Type Total Rent: $1,010
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,872
  • Unit Type Total Rent: $1,872
  • Unit Type Pro Forma: 2700
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,131
  • Unit Type Total Rent: $1,131
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 327 South Ave 57

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 327 South Ave 57

Taxable ValueLand$728,280Additions$416,160Total$1,144,440
Tax Record2024$14,186 ($1,182 / month)
Home Facts
Total Finished SqFt2,898 SqFtAbove Grade Finished SqFt2,898 SqFtLot Size5,046 SqFtStyleQuadraplexYear Built1955ZoningLARD1.5CountyLOS ANGELESAPN5492-005-023

Schools near 327 South Ave 57

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

Benjamin Franklin Senior High School
Public6 to 12

Los Angeles International School
Charter9 to 12

Arroyo Seco Museum Science
PublicK to 8

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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327 South Ave 57 is a multi-family home for sale in Los Angeles, CA 90042. This property was listed for sale on September 13, 2024 by The Agency - Studio City, it's currently listed at $1,100,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Bushnell Way Elementary School, Benjamin Franklin Senior High School and Los Angeles International School. 327 South Ave 57 is a 7-bed, 4-bath, 2,898 sqft multi-family home built in 1955.

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 The Agency - Studio City, Levon Arzumanyan, DRE #01836944; NextHome Luxe Group, Sevan Baroni, DRE #01804043

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.