Los Angeles, CA 90042,508 Chestnut AVE
Los Angeles, CA 90042,508 Chestnut AVE
Los Angeles, CA 90042,508 Chestnut AVE
Los Angeles, CA 90042,508 Chestnut AVE
Los Angeles, CA 90042,508 Chestnut AVE
Los Angeles, CA 90042,508 Chestnut AVE
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$1,350,000

$1,450,000

6.9%
Est.Price: ?

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Est. payment /mo

7,509 Sqft Lot


SOLD DATE : 07/10/2024

Key Details

Sold Price $1,350,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID AR24076130

Sold Date 07/10/24

HOA Y/N No

Year Built 1961

Lot Size 7,509 Sqft

Property 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, 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.

Location

State CA

County Los Angeles

Area 632 - Highland Park

Zoning LARD1.5

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Carport, Driveway

Carport Spaces 3

Pool None

Community Features Dog Park, Hiking, Stable(s), Urban

Parking Type Carport, Driveway

Total Parking Spaces 3

Private Pool No

Building

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5493033011

Energy Description 817.0

Acceptable Financing Cash, Owner Will Carry, Owner May Carry

Listing Terms Cash, Owner Will Carry, Owner May Carry

Financing Seller Financing

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Justin McCardle • Growth Investment Group Pasade • 909-486-2069
Bought with Justin McCardle • Growth Investment Group Pasade
agent-avatar

michelle@michellehomesellingteam.com

515 S Myrtle Ave, Monrovia, CA, 91016, USA

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