Exclusive Listings

HIGHLAND PARK- 6 units with Attractive Seller Financing!

Address:
508 Chestnut Avenue
LA, CA 90042
Price:
$1,450,000
Status:
Available
Type:
Apartment
# Units:
6
Year Built:
1961
Building Size:
3,615
Lot Size:
7,508
CAP Rate:
3.9%
GRM:
13.88x
Price/Unit:
$241,667
Price/SqFt:
$401

PROPERTY HIGHLIGHTS

  • Attractive seller financing! 60% LTV at 6% I/O for 3 years!
  • Freestanding SFR in the front with Private yard. 5- 1 bed units / 1 bath in the back.
  • Parking for all units
  • Highland Park location, very close to South Pasadena
  • Individually metered for Gas/ Electricity
  • Soft-Story retrofit complete
  • Great Value-Add Opportunity with +/-40% Rental Upside
  • 3 Units have private patios
  • On-site laundry facilities


EXECUTIVE SUMMARY

Growth Investment Group is proud to present this charming 6-unit apartment building, which includes a Single-Family House in front and 5 apartments in the rear. This Highland Park complex presents a lucrative value-add investment opportunity in a prime location. The property has a desirable layout that contributes to ease of management and operational efficiency, making the property a great addition to first time investors or seasoned owners adding to the portfolio. The SFR in the front is 2 bed / 1 bath, and all the units in the back building are 1 bed / 1 bath. This asset is individually metered for gas / electricity and has individual water heaters in each unit. This Value-Add property has 40% upside in rents, and Highland Park has seen significant growth over the last 10 years and shows no sign of slowing down! This market attracts a diverse demographic, including young professionals, families, and students, ensuring consistent demand for rental units. The property offers a commuter friendly location with a short distance to the 110 fwy and close to the Highland Park & South Pasadena Metro Gold line stop


Due Diligence


Broker Contact

Justin McCardle
Direct: (909) 486-2069
justin@growthinvestmentgroup.com

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Office:
GROWTH INVESTMENT GROUP CALIFORNIA
1487 E Colorado Blvd.
Pasadena, CA 91106
By Appointment Only - No Walk-ins
Front Office: 626.594.4901

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