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508 Chestnut Avenue
Los Angeles, CA 90042
Sold
508 Chestnut Avenue
Los Angeles, CA 90042
Sold
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.
PROPERTY INFORMATION
| MLS # | AR24076130 | Lot Size | 7,508 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 1,450,000
Price Per SqFt: $ 401 |
DOM | 383 Days |
| Address | 508 Chestnut Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,615 Sq. Ft. |
| Postal Code | 90042 | Garage | N/A |
| County | Los Angeles | Year Built | 1961 |
| Bed / Bath | 3 / 0 | Parking | 3 |
| Built In | 1961 | Status | Closed |
| Sold Date | 2024-07-10 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
| EntryLocation | door |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,547
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/10/2024 | Sold | $1,350,000 |
| 04/16/2024 | Listed | $1,450,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Justin McCardle, Growth Investment Group Pasade. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
