376 N Avenue 57, Los Angeles, CA 90042
376 N Avenue 57, Los Angeles, CA 90042
376 N Avenue 57, Los Angeles, CA 90042
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Margaret DeLao

Margaret DeLao

+1(858) 229-8016
$8,088,000
Est. payment /mo
3 Beds
3 Baths
0.46 Acres Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26051140

Bedrooms 3

Lot Size 0.459 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

We are pleased to present 376 N Ave 57, an exceptional 24-unit investment opportunity in the heart of Highland Parkone of the most sought-after and rapidly evolving neighborhoods in Los Angeles. Strategically located within walking distance of the vibrant retail and dining corridor along Figueroa Street, York Blvd, and the Highland Park Station, this property provides unparalleled convenience and connectivity. This rare 8.28% Cash-on-cash return deal in a gentrified area provides a safe investment in a volatile market. The building was built in 1962 and situated on a commanding 20,000 SF lot, this asset has undergone significant capital improvements between 2020 and 2026. The heavy lifting is already complete: 22 of the 24 units have been extensively renovated to feature new flooring, shaker cabinets, stainless-steel appliances, updated bathrooms, LED lighting, mini-split HVAC systems, and in-unit laundry. Furthermore, the building benefits from vital systemic updates, including plumbing and electrical panel / subpanel upgrades. The favorable unit mix consists of (20) 1-bedroom units, (2) 2-bedroom units, and (2) studio units. All units are individually metered for gas and electricity, helping to minimize owner expenses. This offering represents a secure, high-yield investment anchored by highly attractive in-place financing. A new owner can assume a 3.7% fixed interest rate through June 2029, generating an estimated 8.28% cash-on-cash return from day one. With utilities individually metered for gas and electricity, RUBS already implemented, and remaining upside in the two

Location

State CA

County Los Angeles

Zoning Assessor

Direction Between Figueora and York

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5469033018

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MLS Router / San Diego MLS
Listed by Justin McCardle, DRE#01895720 Growth Investment Group Pasade 

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Margaret DeLao

Margaret DeLao

+1(858) 229-8016

Realtor | License ID: 01377428

Realtor License ID: 01377428

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