255 South Ave 55

Los Angeles, CA 90042

$3,300,000
Price
19
Beds
10
Baths
7,538 Sq. Ft.
$438 / Sq. Ft.
7,538
Sq. Ft.
$438
per Sq. Ft.

Property Details for 255 South Ave 55

StatusActive
MLS #19451516
Year Built1962
DOM201
Compass TypeMulti Family
MLS TypeResidential Income / Apartment Building
Lot Size0.27 AC / 11,900 SF
Taxes-
Condo/Co-op Fees-
HOA Fees-
CountyLos Angeles County

Listing Agent

Contact Agent(s)

Property Details for 255 South Ave 55

Area
Highland Park (632)
Architectural Style
Mid Century
Parking Spaces Total
10
Pool
No
Cooling Type
Wall Unit(s)

Description

255 S Avenue 55 is a 10 Unit Mid-Century Courtyard Apartment located in a PRIME location of Highland Park. Step out the door and walk one block to Figueroa Dining/Nightlife! Offered at 5.03% CAP Rate and 13.31 GRM. 7 out of 10 units are VACANT and 6 out of 10 Units are beautifully renovated with quartz countertops, stainless appliances, vinyl plank flooring, keypad keyless entry, laundry hookups, and wall mount HVAC systems. Recent upgrades include a new roof and copper plumbing throughout the building.... The units average 750 sf and the unit mix consists of (9) 2 Bedroom 1 Bathroom units and (1) 1 Bedroom 1 Bathroom units. There is 20% upside in rents for the un-renovated units. This fully gated, secure property sits on a large 10,900 sf lot with a fire pit in the center of the common courtyard area. There are 10+ parking spaces, onsite laundry facilities, and the building is separately metered for gas + electricity. Once rented, this building will gross $247,848 annually!!

Location

Listing Courtesy of Compass, Kenny Stevens, DRE #01090251

Listing Agent

  1. Kenny Stevens

    Listing Agent

    Compass

    DRE #01090251

Building Information for 255 South Ave 55

Stories2Residences10Year Built1962Building Size-Lot Size0.27 AC / 11,900 SF

Payment Calculator

$11,870 per month

30 year fixed, 3.51% Interest

Principal and Interest

$11,870

Property Taxes

HOA Dues

$0

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Property Information for 255 South Ave 55

Property Features
    Interior Features
  • Appliances: Dishwasher, Gas Or Electric Dryer Hookup, Refrigerator
  • Bathroom Features: Remodeled
  • Common Walls: Attached
  • Cooking Appliances: Microwave, Range, Oven
  • Flooring: Sheet Vinyl
  • Heating: Other
  • Interior Features: Open Floor Plan
  • Kitchen Features: Remodeled
  • Laundry Locations: Laundry Area
    Exterior Features
  • Exterior Construction: Stucco
  • Open Other Spaces Total: 3
  • Other Structural Features: Full Copper Plumbing
    Parking Info
  • Covered Spaces Total: 7
  • Parking Features: Uncovered
Community/Development / Location Info
    School/Location Info
  • County: Los Angeles
  • Cross Streets: FIGUEROA AND S AVENUE 55
  • Driving Directions: Figueroa and S Avenue 55
    Association Information
  • Association/HOA: No
Income / Expense / Tax / Assessment Details
    Income Details
  • Actual Annual Gross Rent: $247,848
  • Adjusted Gross Income: $247,848
  • Cap Rate: 5.03
  • Gross Operating Income: $240,413
  • Gross Rent Multiplier: 13.31
  • Net Operating Income: $166,075
  • Owner Pays: Water
  • Tenant Pays: Electricity, Gas
    Expense Details
  • Expense Total Annual: $74,337
    Assessment Info
  • Assessed Improvement Value: $267,622
  • Assessed Land Value: $259,664
Land/Lot Info
    Land/Lot Info
  • Lot Description: 2-4 Lots, Yard
  • Lot Size Dimension Description: 85x140
  • Lot Size Source: Public Records
  • Lot Size SQFT: 11900
  • Tax Parcel Number: 5468029001
  • Zoning: LARD2
Structure Info
    Structure Info
  • Units Total In Complex: 10
  • Building Permit: Yes
  • Number Leased: 4
  • Number Of Buildings: 1
  • Paved: Yes
  • Property Condition: Repair Cosmetic, Repairs Major, Updated/Remodeled
  • Property Sub Type: Apartment Building
  • Property Type: Residential Income
  • Security Features: Gated Community
  • Square Footage Source: Public Records
  • Total Floors: 2
  • Has Water Heaters: Yes
  • Year Built: 1962
Unit Information
    Unit 1 Info
  • Unit Furnished 1: Unfurnished
  • Unit Monthly Rent 1: $2,500
  • Unit Number Of Bath 1: 1.0
  • Unit Number Of Bed 1: 2.0
  • Unit Projected Total Monthly Rent 1: $2,500
  • Unit Total Monthly Rent 1: $2,500
  • Unit Type 1: 1.0
    Unit 2 Info
  • Unit Furnished 2: Unfurnished
  • Unit Monthly Rent 2: $2,500
  • Unit Number Of Bath 2: 1.0
  • Unit Number Of Bed 2: 2.0
  • Unit Projected Total Monthly Rent 2: $2,500
  • Unit Total Monthly Rent 2: $2,500
  • Unit Type 2: 1.0
    Unit 3 Info
  • Unit Furnished 3: Unfurnished
  • Unit Monthly Rent 3: $2,500
  • Unit Number Of Bath 3: 1.0
  • Unit Number Of Bed 3: 2.0
  • Unit Projected Total Monthly Rent 3: $2,500
  • Unit Total Monthly Rent 3: $2,500
  • Unit Type 3: 1.0
    Unit 4 Info
  • Unit Furnished 4: Unfurnished
  • Unit Monthly Rent 4: $1,032
  • Unit Number Of Bath 4: 1.0
  • Unit Number Of Bed 4: 2.0
  • Unit Projected Total Monthly Rent 4: $2,500
  • Unit Total Monthly Rent 4: $1,032
  • Unit Type 4: 1.0
    Unit 5 Info
  • Unit Furnished 5: Unfurnished
  • Unit Monthly Rent 5: $2,000
  • Unit Number Of Bath 5: 1.0
  • Unit Number Of Bed 5: 1.0
  • Unit Projected Total Monthly Rent 5: $2,000
  • Unit Total Monthly Rent 5: $2,000
  • Unit Type 5: 1.0
    Unit 6 Info
  • Unit Furnished 6: Unfurnished
  • Unit Monthly Rent 6: $2,500
  • Unit Number Of Bath 6: 1.0
  • Unit Number Of Bed 6: 2.0
  • Unit Projected Total Monthly Rent 6: $2,500
  • Unit Total Monthly Rent 6: $2,500
    Unit 7 Info
  • Unit Furnished 7: Unfurnished
  • Unit Monthly Rent 7: $1,124
  • Unit Number Of Bath 7: 1.0
  • Unit Number Of Bed 7: 2.0
  • Unit Projected Total Monthly Rent 7: $2,500
  • Unit Total Monthly Rent 7: $1,124
    Unit 8 Info
  • Unit Furnished 8: Unfurnished
  • Unit Monthly Rent 8: $2,500
  • Unit Number Of Bath 8: 1.0
  • Unit Number Of Bed 8: 2.0
  • Unit Projected Total Monthly Rent 8: $2,500
  • Unit Total Monthly Rent 8: $2,500
    Unit 9 Info
  • Unit Furnished 9: Unfurnished
  • Unit Monthly Rent 9: $1,373
  • Unit Number Of Bath 9: 1.0
  • Unit Number Of Bed 9: 2.0
  • Unit Projected Total Monthly Rent 9: $2,500
  • Unit Total Monthly Rent 9: $1,373
    Unit 10 Info
  • Unit Furnished 10: Unfurnished
  • Unit Monthly Rent 10: $2,500
  • Unit Number Of Bath 10: 1.0
  • Unit Number Of Bed 10: 2.0
  • Unit Projected Total Monthly Rent 10: $2,500
  • Unit Total Monthly Rent 10: $2,500
    Unit 11 Info
  • Unit Furnished 11: Partially
    Unit 12 Info
  • Unit Furnished 12: Partially
    Unit 13 Info
  • Unit Furnished 13: Partially

Property History for 255 South Ave 55

DateEvent & SourcePriceAppreciation
Apr 4, 2019Listed (Active)

CARETS #19451516

$3,300,000
Feb 15, 2001Sold (Public Records)

Public Record #69029171

$425,000
DateEvent & SourcePrice
04/04/2019
Listed (Active)

CARETS #19451516

$3,300,000
02/15/2001
Sold (Public Records)

Public Record #69029171

$425,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 255 South Ave 55

Taxable ValueLand$264,857Additions$272,974Total$537,831
Tax Record2018$7,609
Home Facts
Beds19Finished Sq.Ft.7,538 SqFtLot Size11,900 SqFtStyleMulti-Family Res (5+ Units)Year Built1962Year Renovated1962ZoningLARD2CountyLOS ANGELES

Schools near 255 South Ave 55

AllElementaryMiddleHigh
SchoolTypeGradesDistanceRating
Bushnell Way Elementary SchoolPublicK-60.3 mi
2
Sycamore Grove SchoolPrivateK-80.5 mi
NR
Arroyo Seco Museum SciencePublicK-80.6 mi
6
St. Ignatius Of Loyola Elementary SchoolPrivateK-80.7 mi
NR

Bushnell Way Elementary School

K-6, 0.3 mi, Public

2

Sycamore Grove School

K-8, 0.5 mi, Private

NR

Arroyo Seco Museum Science

K-8, 0.6 mi, Public

6

St. Ignatius Of Loyola Elementary School

K-8, 0.7 mi, Private

NR

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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255 South Ave 55 is a multi-family home for sale in Los Angeles, CA 90042. This property was listed for sale on April 4, 2019 by Compass at $3,300,000. It has been on the market for a total of 201 days and was last sold on February 15, 2001. Nearby schools include Teach Academy Of Technologies, Math, Science, & Technology Magnet Academy At Roosevelt High and Humanitas Academy Of Art And Technology At Esteban E. Torres High No. 4. 255 South Ave 55 is a 19-bed, 10-bath, 7,538 sqft multi-family home built in 1962.

All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements and Compass expressly disclaims any liability in connection with such measurements.
Listing Courtesy of Compass, Kenny Stevens, DRE #01090251
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