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$ 1,495,000
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Active
5274 Ithaca Avenue Los Angeles, CA 90032
5,439 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,439 sqft
Price per Sqft $274
MLS Listing ID CL26750675
HOA Y/N No
Year Built 1963
Lot Size 9,604 Sqft
Acres 0.2205
Property Sub-Type Other
Property Description
The James Group is pleased to present 5274 Ithaca Ave, a 9 unit apartment offering in the established Eastside neighborhood of El Sereno. Built in 1963, the property has a desirable unit mix including (1) 3 bed / 1 bath, (4) 2 bed / 1 bath, and (4) 1 bed / 1 bath units spread out over 5,439 square feet, and sits on a generous 9,601 square foot LARD1.5 zoned lot. 5274 Ithaca is a value-add opportunity with approximately 22% upside in rents, giving a future investor a clear path to grow income through strategic rent adjustments and targeted unit improvements as tenancies turn. Three units, (1) 1 bed / 1 bath and (2) 2 bed / 1 bath, will be delivered vacant. A new owner can lease them at market rents on day one while collecting strong in place cash flow.El Sereno sits at the crossroads of LA's Eastside, bordered by South Pasadena, Alhambra, and Lincoln Heights. The property is approximately 2 miles from Cal State LA and just over 3 miles from the USC Health Sciences Campus, home to Keck Hospital of USC. Those two major employers support a deep and steady renter base. Access to the 10 and 710 freeways, the Huntington Drive corridor, and the Metrolink San Bernardino Line at Cal State LA connects tenants to Downtown LA, Pasadena, and the San Gabriel Valley in minutes. Residents also enjoy nearby dining, retail, and green space such as Ascot Hills Park. With a well located building, real rental upside, and vacancies on day one, this is an opportunity to own a generational asset in one of LA's most connected Eastside neighborhoods.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5217018005
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Listed by William James • Lyon Stahl Investment Real Estate, Inc.
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