508 Chestnut Avenue
508 Chestnut Avenue
$1,450,000
3
6
3,615
3,615
$401
Description
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,...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.
- Listed by Justin McCardle • DRE #01895720 • Brokerage DRE #02201380 • Growth Investment Group Pasade
Property Details for 508 Chestnut Avenue
Parking Spaces Total
3
Private PoolNo
Total Units6.0
Building TypeAttached
Lot Size SourceAssessor
Living Area3615
Assessor Parcel Number5493-033-011
Property Attached YNtrue
Location
LISTING UPDATED: 04/16/2024 12:59 PM
Property Details for 508 Chestnut Avenue
Status | Active |
---|---|
MLS # | AR24076130 |
Days on Market | 16 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1961 |
County | Los Angeles County |
Location
Building Information for 508 Chestnut Avenue
Building/Complex508 Chestnut AveFloor-Stories2Residences-Pet Policy-Year Built1961Building Size-
Payment Calculator
$8,855 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 508 Chestnut Avenue
Property History for 508 Chestnut Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 508 Chestnut Avenue
Taxable ValueLand$462,070Additions$398,684Total$860,754
Tax Record2023$11,304 ($942 / month)
Home Facts
Total Finished SqFt3,615 SqFtAbove Grade Finished SqFt3,615 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningLARD1.5CountyLOS ANGELESAPN5493-033-011
Schools near 508 Chestnut Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 12 | |||
Public - | 6 to 8 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Benjamin Franklin Senior High School Public6 to 12 | ||
Luther Burbank Middle School Public6 to 8 | ||
Los Angeles International School Charter9 to 12 |
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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.