427 N Avenue 52, Los Angeles, CA 90042

Property Description

Turnkey income-producing triplex in one of Northeast Los Angeles' most desirable rental markets. Located in the heart of Highland Park, this updated property generates $7,585 per month in current gross income ($91,020 annually) with upside to approximately $98,400 in annual market rents. The property consists of a studio unit, a 2-bedroom/1-bath unit, and a spacious 2-bedroom/2-bath unit. All three units have been extensively remodeled and feature custom-colored cabinetry, quartz countertops, luxury vinyl plank flooring, recessed lighting, stainless steel appliances, and energy-efficient mini-split heating and air conditioning systems. Each unit also includes its own laundry facilities, providing added convenience and tenant appeal. Situated on a large lot with favorable zoning and future ADU development potential (buyer to verify), the property offers both strong in-place cash flow and long-term value-add opportunities. A former garage has been converted to a carport parking space. Ideally positioned near York Boulevard, Figueroa Street, Pasadena, Downtown Los Angeles, Occidental College, and major transportation corridors, residents enjoy convenient access to Highland Park's renowned dining, coffee shops, nightlife, and cultural attractions. At the asking price, the property offers an approximate 6.24% current cap rate and 14.56 GRM based on existing rents, making it an attractive opportunity for investors, 1031 exchange buyers, and owner-users seeking long-term appreciation in one of Los Angeles' strongest rental submarkets. Please do not disturb tenants. Drive-by only. Offers subject to interior inspection. Buyer to independently verify all information, including zoning, development potential, rents, expenses, and square footage.