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5745 Arroyo DR Highland Park, CA 90042
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Key Details
Sold Price $1,450,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR23035251
Sold Date 07/14/23
HOA Y/N No
Year Built 1961
Lot Size 5,802 Sqft
Property Description
SELLER FINANCING- 70% LTV, 5% I/O, will carry for 2 years... Take a look at this attractive 6 Unit Value Add opportunity in one of the hottest markets in Los Angeles- Highland Park! The building has all 2-bedroom units with 6 tandem parking spaces and is individually metered for gas and electricity. The current rents are considerably below market with rental upside being +/- 75% below comparable nicely renovated units in the area. It is strategically located near all the Figueroa has to offer as well as the Metro Gold Line and 110 freeway with easy access to Downtown LA. These units are perfect for the buyer looking to add significant value as this pocket in Los Angeles has proven the strength of the rental market which continues to improve. The size and location of the building make this a solid hold for all size portfolios!
Location
State CA
County Los Angeles
Area 632 - Highland Park
Zoning LARD2
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Urban
Total Parking Spaces 12
Private Pool No
Building
Lot Description 6-10 Units/Acre, Irregular Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5492006018
Energy Description 237.0
Acceptable Financing Cash, Owner Will Carry, Private Financing Available
Listing Terms Cash, Owner Will Carry, Private Financing Available
Financing Seller Financing
Special Listing Condition Standard
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Bought with David Thi • Coldwell Banker Realty