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6079 La Prada Street
Los Angeles, CA 90042
Sold
6079 La Prada Street
Los Angeles, CA 90042
Sold
6079 La Prada Street is a unique, one-of-a-kind 13-unit apartment community located a few blocks north of the intersection at York Boulevard and N. Figueroa Street in Highland Park. Built by the current ownership in 1985, the property is not fully subject to LA’s Citywide Rent Control Measures. (Annual rent increases of 8-10% are allowable, according to CA AB 1482) 6079 La Prada Street consists of a 3-story residential building measuring 11,860 SF in building area, sitting upon nearly 11,560 SF of land. The unit mix includes 10 large studio units with plentiful closet/shelf storage, windows/balconies providing natural light, and full kitchens, 2 comfortably spacious 1B/1B units with balconies, and a 3B/2B ground-level unit w/ a private patio which faces La Prada Street to the south. In total, the property includes 10 parking spaces (6 Surface, 4 Garage) in the rear. This property presents a new owner/investor with a unique value-add opportunity to maximize income and value through a robust rehab/renovation strategy. 6079 La Prada Street is separately metered for Gas and Electricity and Earthquake Emergency Shutoff Valves have been installed on all gas meters. The lower level contains the ground-level unit, which has rear access to a spacious lounge area fully renovated in 2020, a communal laundry facility with coin-operated machines (units do not have in-unit laundry hookups), and a small bonus room which may be used for storage. The lounge, which currently has a working sink, opens into the garage, and may carry ADU conversion potential. (Buyer to Verify) The property has been well maintained by the current ownership throughout a nearly 40-year hold period, with some units having been partially renovated. No units have been brought up to top-of-market condition for 2024-2025 so the property holds tremendous upside potential. Copper plumbing has been installed throughout 6079 La Prada St. The proforma cap rate is 5.07% and the proforma GRM is 12.94 post-rehab/renovation. The current ownership is a Non-Profit Organization but 6079 La Prada St. can operate as a traditional market-rate apartment complex (w/ regular rental unit registration, SCEP inspections, etc.) It can be purchased individually or together with 2 adjacent parcels: 6817-6819 N. Figueroa St. (21-Unit Apt. Constr. 1954-1955) & 6801 N. Figueroa St. (4-Suite Corner Retail Constr. 1974) Altogether, the portfolio covers just over 1 Acre of contiguous residential land in Highland Park.
PROPERTY INFORMATION
| MLS # | AR24039531 | Lot Size | 11,538 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 3,310,000
Price Per SqFt: $ 279 |
DOM | 464 Days |
| Address | 6079 La Prada Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 11,860 Sq. Ft. |
| Postal Code | 90042 | Garage | 4 |
| County | Los Angeles | Year Built | 1985 |
| Bed / Bath | 4 / 0 | Parking | 10 |
| Built In | 1985 | Status | Closed |
| Sold Date | 2024-06-26 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
| InteriorFeatures Information | Copper Plumbing Full |
| EntryLocation | La Prada St. |
| Entry Level | 1 |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $3,531
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 06/26/2024 | Sold | $2,700,000 |
| 02/26/2024 | Listed | $3,310,000 |
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Listing provided courtesy of Evan Monroe, 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.
