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221 S Avenue 66, Los Angeles, CA 90042
$900,000
221 S Avenue 66, Los Angeles, CA 90042View this property at 221 S Avenue 66, Los Angeles, CA 90042
221 S Avenue 66Los AngelesCA90042
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Property Description
Looking for a great investment? Look no further! This is a phenomenal opportunity to upgrade a 4-unit complex (3 two- bedroom units, and 1 one-bedroom unit) with off street parking in the heart of trendy Highland Park and reap the rewards!Family owned for several decades, the property is located on a quiet street in the Garvanza area, close to great restaurants, parks, and transit options to downtown LA. While there are improvements and modernizations to be made, there is great potential ROI: similar complexes are valued upward of $1.3M in the neighborhood; rent upside of 175% (current gross rent roll of $43k vs market rents of up to $120k annually), and neighborhood prices up 23% Year-over-year in 2022. Creative investors could even add units to space on the back of the lot currently used for parking. Sold As-Is; cash offers preferred.
Full Property Details
Full Property Details for 221 S Ave 66
General
- Sold For: $900,000
- Status: Closed
- Type: Multi-Family
- MLS ID: V1-12511
- Added to Site: 722 day(s) ago
Interior
- Fireplace(s): None
- Appliances: Gas Oven, Refrigerator
- Flooring: Wood
Rooms
Other Rooms
- Laundry: Dryer Included, Washer Included
Additional Information
- Pool Description: None
- Spa Description: None
Parking
- Parking Features: Assigned, Automatic Driveway Gate, Parking Space
- Parking: Assigned, Automatic Driveway Gate, Parking Space
Location
- Area: 632 - Highland Park
- County: Los Angeles
- Development Name: 632 - Highland Park
- Driving Directions: From Ventura County:101 S to the 134 to PasadenaExit Figueroa and turn left on FigueroaLeft on YorkRight on Avenue 66
Heating & Cooling
- Cooling Type: Wall/Window Unit(s)
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 4
- # Electric Meters: 4
Structural Information
- Architectural Style: Traditional
- Foundation: Raised
- Roof: Composition, Shingle
- Windows: Screens
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 2,944
- Year Built: 1955
Unit Information
Unit 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Total Bathrooms: 1
- Bedrooms: 2
Unit 4
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Property View: None
- Lot Size (Acres): 0.113
- Lot Size Source: Public Records
- Lot Dimensions: 4922 sq ft
- Zoning: LARD2
Green Features
- Energy Efficient: Appliances
Financial Considerations
- Price Per Sq. Ft.: $338.99
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Inclusions: Tenants. All four tenants are month to month; no leases in place.
Listed by Meridian Capital Real Estate, Betcy Elie
Sold by Keller Williams Studio City, Maritza Orozco
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Schools
Schools serving 221 S Ave 66
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
317 N Avenue 62, Los Angeles, CA 90042 | K-5 | 0.4 mi | |
815 San Pascual Ave, Los Angeles, CA 90042 | K-5 | 0.7 mi | |
820 N Avenue 54, Los Angeles, CA 90042 | 9-12 | 1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 221 S Ave 66
Date
Details
Price
Change
Source
8/18/2022
Sold
$900,000
-9.82%
MLS
7/25/2022
Price Reduced
$998,000
-4.95%
MLS
6/27/2022
Price Reduced
$1,050,000
-4.55%
MLS
5/18/2022
Listed
$1,100,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
221 S Avenue 66, Los Angeles, CA 90042 (MLS# V1-12511) is a Multi-Family property that was sold at $900,000 on August 18, 2022. Want to learn more about 221 S Avenue 66? Do you have questions about finding other Multi-Family real estate for sale in Highland Park? You can browse all Highland Park real estate or contact a Coldwell Banker agent to request more information.