508 Chestnut Avenue, Los Angeles, CA 90042
Property
Sold July 2024
Listing Agent: Justin McCardle (DRE #01895720) · Listing Office: Growth Investment Group Pasade · Contact: 909-486-2069 · Bought with: Justin McCardle · Growth Investment Group Pasade · MLS #AR24076130 · Source: CRMLS
About this property
Look no more! We are 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. Property was built in 1940 & 1961.
Listing description from the July 2024 sale, as reported to CRMLS.
Sale history