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Incredible Highland Park Fourplex 311 S Avenue 59

4 Unit Block of Flats £938,532 (£234,633/Unit) 4.57% Net Initial Yield Los Angeles, CA 90042

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Investment Highlights

1 Unit Vacant and Available to Show!
Unit Mix: Four Large 2Br+1Ba Apartments That Average Appx 800 SF Each
Adjacent 4 Unit at 5920 Benner (Exact Same Size and Layout) Just Sold for $1,420,000!

Great Investment Property in Highland Park near Figueroa's hottest shops, cafes, bars, & restaurants.
Purchase With Residential Owner-User or Investor Financing - Call For Loan Programs, Interest Rates & Options!
4 Open Parking Spots & Potential To Utilize Open Space As Parking Via Curb Cut on Benner

Executive Summary

Rare opportunity to buy a turnkey 4plex in hip Highland Park on a large corner lot with parking! All apartments are 2 bedroom and 1 bathroom, and the spacious units average 806 SF each per title. Each apartment has one large bedroom and one smaller bedroom with no closet. Two apartments have small office areas off the kitchen, and all units have a closet at the end of the hallway that would be prefect for in unit stackable washer/dryers. There are separate hot water heaters and meters, and the property is professionally managed. Expenses are naturally low on a building like this. This property is in a prime area of Highland Park near Figueroa and with easy access to the 110 Freeway. All in all, this is an excellent investment in a stellar location.

Financial Summary (Actual - 2024)	Annual	Annual Per SF
Gross Rental Income	£62,066	£19.04
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	£62,066	£19.04
Taxes	-	-
Operating Expenses	-	-
Total Expenses	£19,215	£5.89
Net Operating Income	£42,851	£13.14

Financial Summary (Actual - 2024)

Gross Rental Income
Annual	£62,066
Annual Per SF	£19.04

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	£62,066
Annual Per SF	£19.04

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	£19,215
Annual Per SF	£5.89

Net Operating Income
Annual	£42,851
Annual Per SF	£13.14

Property Facts

Price	£938,532	Apartment Style	Low Rise
Price Per Unit	£234,633	Building Class	C
Sale Type	Investment	Lot Size	0.15 AC
Net Initial Yield	4.57%	Building Size	3,260 SF
Sale Conditions	1031 Exchange	Average Occupancy	75%
Gross Rent Multiplier	15.12	Number of Floors	2
No. Units	4	Year Built	1948
Property Type	Residential	Parking Ratio	1.23/1,000 SF
Property Subtype	Apartment

Price	£938,532
Price Per Unit	£234,633
Sale Type	Investment
Net Initial Yield	4.57%
Sale Conditions	1031 Exchange
Gross Rent Multiplier	15.12
No. Units	4
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.15 AC
Building Size	3,260 SF
Average Occupancy	75%
Number of Floors	2
Year Built	1948
Parking Ratio	1.23/1,000 SF