117 S Avenue 64

LOS ANGELES, CA, 90042

$9,250,000

$676 per ft²
$9,250,000
$676 per ft²
Active
Active
 - For Sale
beds
3 Beds
baths
2 Baths
carpenters-square
13,674 ft²
property_type
Multi-family
calendar
Built 1989
The MARQ, a prominent 24-unit apartment community located in the gentrified neighborhood of Highland Park, CA. A turnkey, newer constructed apartment community (built in 1989) and located in what can be considered as one of the best locations in Highland Park. The property offers an investor the rare opportunity to own an excellent piece of real estate in a strong and gentrifying submarket nearby downtown Los Angeles, plus a safe way to fight the raging inflation. Due to its year built, the property is NOT under City of Los Angeles rent control ordinance; it is under Statewide ordinance AB1482 which allows maximum annual rent increase of 5%+CPI. This provides future upside potential for upgraded units and non-upgraded units (2). The property is strategically located right off York Blvd, providing easy access to dining, retail stores, and shopping along York Blvd. It is within walking distance to Highland Park Metro Station, and Figueroa St retail corridors. It is at the border of Highland Park and South Pasadena and within walking distance to South Pasadena Arroyo Seco Golf Course and South Pasadena Arroyo Seco Park. The property has a high Walk Score of 88 ( Very Walkable ). It has superb access to Downtown Los Angeles via FWY 110, and minutes to FWY 2, FWY 134 and FWY 210. The property was built in 1989 and has a total of 13,674 SF building size on a 11,307 SF lot. It offers excellent features such as copper plumbing, pitched roof, secured entrance with intercom system, art mural in the entrance area, quiet center courtyard, central HVAC in each unit, drought resistant + water efficient landscaping, gated parking and much more. It has an excellent unit mix of eight (8) 2 bedroom+1bathroom, and sixteen (16) 1 bedroom+1bathroom. It has a total of 39 parking spaces (26 are tandem), and shared laundry room. All the units (except 2) have been completely upgraded with new flooring, new kitchen with stainless steel appliances with dishwasher, new bathroom, new lighting fixtures, and ceiling fans. Each unit has central HVAC, individual water heater, and all 2nd floor units have vaulted ceiling with private balconies. Each unit is separately metered for electricity and gas. The property has been very well-maintained throughout current ownership with no known deferred maintenance.
MLS® ID:
AR22064095MR
Listed:
3/30/22
Updated:
9/29/22

Interior Features

Total Bedrooms
3
Total Bathrooms
2
Laundry Description
Community

Exterior/Building Features

Lot Size
0.26 acres lot
Sewer
Public Sewer

Other Property Details

Garage
Yes
Garage Spaces
39
Parking
Y
Parking Total
39.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
LARD1.5

Property History

Date
Event
Price
Value
9/1/22
Price Change
$9,250,000
-2%

 

Courtesy of Justin McCardle, GIG Real Estate Inc.

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rory Posin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 9/29/22

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