Courtesy of: Remax Commercial And Investment Realty
Days On Market: 176
Year Build: 1954
Address: 511 N AVENUE 50
County: Los Angeles
City: Los Angeles
Neighborhood: 632 - Highland Park
511 N Avenue 50 is a 6 unit apartment building in a premier Highland Park location. The property offers an investor various holding strategies. Primarily, a buyer has the ability to potentially capture a significant increase in rental income by taking advantage of current development incentives such as adding accessory dwelling units to the massive lot. Originally constructed in 1954, two separate structures sit on 10,790 SF parcel zoned RD1.5. Historically the property had a total of 8 units until 2010 buyer to verify. Each unit is separately metered for gas and electricity. The building is well situated on Avenue 50 which is a common thoroughfare that connects Figueroa and York boulevards two prime arteries in Northeast LA. Minutes to the 110 freeway, Metro Gold Line, and cycling distance to countless bars, restaurants, cafes and record shops. This is a rare value add deal in one of the most emerging markets in the country.