260 S Ave 55 S, Los Angeles, CA 90042

Property Description

The subject property is a 13-unit apartment building located in Highland Park on Avenue 55, one block west of the Pasadena Freeway.Built in 1990, the property is not subject to rent control. The building is two-stories over ground level covered parking and consists of 11 one bedroom/one bath and 2 three bedroom/two bath units, 10 single parking, 2 compact spaces, and 4 tandem parking spaces, and a laundry room.The location is a solid apartment rental corridor, minutes north of Downtown Los Angeles and just south of Pasadena and east of Eagle Rock.Highland Park continues to be among the most stable apartment markets in Los Angeles County because of its central location, pleasant neighborhoods, and proximity to commercial and retail facilities.The demand from investors for apartment buildings in Highland Park appears to be increasing due to perceived "gentrification" of the area.The seller is also offering a seven-unit property for sale, built in 1965, on the same street.