501 North Avenue 50

We are pleased to present an eleven (11) unit apartment building located at 501 North Avenue 50 in Los Angeles, California. The subject property is situated in a prime Highland Park location, north of Figueroa Street and southeast of El Paso Drive. Built in 1922, this property contains a great unit mix of one (1) studio / one-bathroom unit, seven (7) one-bedroom / one-bathroom units, and three (3) two-bedroom / one-bathroom units. This gated, courtyard style property features character, Spanish accents that makes the building look and feel like a bungalow community. There is alley access at the rear of the property with secure access to ample on-site parking. There is potential to add multiple ADU unit(s) to the storage areas or to the parking lot. Tenants will love living just down the street from Figueroa, a trendy and historic thoroughfare considered as the core of Highland Park. Some of the notable amenities include Highland Park Bowl, Most Likely Highland Park, The Greyhound Bar, Civil Coffee, Lodge Room, and ETA Oyster Bar. Situated in a prime Highland Park location, this offering presents an excellent opportunity for any investor capitalize on strong rental upside at a low price point in one of the trendiest markets of Los Angeles.