The Hirth Group has been exclusively selected to market 4555-4561 N. Figueroa Street, Highland Park, CA 90065. Locational characteristics make this an A+ location–with the Metro Gold Line only a short walking distance from the property–new ownership can take advantage of this true value add deal offered at $3,450,000. Currently a 4.74% cap rate and a GRM of 14.49 with a pro forma cap rate of 6.92% and a GRM of 10.85. FIVE units will be delivered vacant including a private single family home. The rental income is approximately 35% below fair market value.
4555-4561 N. Figueroa Street is comprised of 15 apartments spread across four structures featuring ±16 on-site parking spaces. The properties boast a unique and historic charm consisting of two four units, one six unit building, and a single family home in the rear. The properties were constructed in 1908,1949,1954 and 1958 totaling ±7,997 SF on a ±16,949 SF lot. The subject property is zoned RD1.5 and is a historical building located in Highland Park.
The property boasts a phenomenal unit mix of 7 studios, 7 one bedroom/one bath units, and one 1+1 single family home. Common area amenities include an oversized parking lot, laundry room, and an abundance of open landscaped common area.
The subject property is located within 500 feet of Highland Parks Sycamore Grove Park and the a short three minute walk to the Metro Goldline. The Goldline stops include the Allen, Chinatown, Del Mar, Fillmore, Heritiage Square, Lake, Memorial Park, Sierra Madre Villa, South Pasadena, Highland Park, Indiana and Maravilla Stations.
CA DRE 01515796