376 N. Avenue 57
- Prime Highland Park Location – Walking distance to Figueroa Street retail/dining corridor and Highland Park Station in Highland Park
- 24-Unit Asset in one of Northeast Los Angeles’ most desirable rental submarkets
- Extensively Renovated – 22 of 24 units upgraded
- Capital Improvements Completed – Plumbing and electrical panel upgrades
- Desirable Unit Mix – 20 (1BR), 2 (2BR), 2 (Studios)
- Individually Metered for Gas & Electricity – Reduced owner expense exposure
- Value-Add Upside – Remaining rental upside with RUBS already implemented
- Attractive Assumable Financing – 3.7% fixed rate through June 2029
- Day-One Cash Flow – Projected 8%+ return from acquisition
Location & Connectivity
- Direct access to Downtown Los Angeles and Pasadena via the Metro A Line at Highland Park Station
- Immediate access to the 110 Freeway (Arroyo Seco Parkway)
- Minutes from Pasadena, Glendale, and Downtown LA
Property Description
Growth Investment Group is pleased to present an exceptional 24-unit investment opportunity in the heart of Highland Park—one of the most sought-after and rapidly evolving neighborhoods in Los Angeles. Ideally located within walking distance to the vibrant retail and dining corridor along Figueroa Street and the Highland Park Station, this property offers tenants unparalleled convenience and connectivity. The building has undergone significant capital improvements, including renovations to 22 of the 24 units, along with plumbing upgrades and updated electrical panels. The property features a highly desirable unit mix of 20 one-bedroom units, 2 two-bedroom units, and 2 studio units. All units are individually metered for gas and electricity, helping to minimize owner expenses. Current ownership has strategically positioned the asset for continued growth, with RUBS already implemented and additional upside potential remaining in rents. The property is being offered with attractive in-place financing at a 3.7% fixed interest rate through June 2029, allowing a new owner to achieve an estimated 8%+ return from day one. This is a rare opportunity to acquire a well-located, renovated asset with strong in-place cash flow and meaningful future upside in one of Northeast Los Angeles’ premier rental markets.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $8,088,000 |
| No. of Units: | 24 |
| Cap Rate: | 5% |
| GRM /GIM: | 12.56 |
| Year Built: | 1962 |
| Year Renovated: | 2020 |
| Building Size: | 16,671 Sq ft |
| No. of Stories: | 2 |
| Opportunity Zone: | No |
| Price per unit: | $337,000 |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
1520 Leavenworth Street
San Francisco, California
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout