500 Chestnut Avenue
Los Angeles, CA, 90042 $ 5,100,000
Bedrooms32 Baths3.1 Sq 16,840 Monthly Estimate*
$ 35,625
Listed by CB RICHARD ELLIS
for $5,100,000 with 32 bedrooms and 3 full baths, 1 half bath. This 16,840 square foot home was built in 1930 on a lot size of 0.6887.
We are proud to present the opportunity to purchase 500 Chestnut Avenue, a 20-unit multifamily community in the Highland Park submarket of Los Angeles County. 500 Chestnut Avenue is located in the Northeast region of Los Angeles County, adjacent to popular affluent neighborhoods like South Pasadena, Pasadena, and Glendale. Highland Park is one of LA’s fastest growing rental markets and highly sought after by young professionals and creatives. The property enjoys immediate access to the 110 freeway – connecting to freeways 210, 10, 5, and 101 allowing convenient commutes to DTLA, San Fernando Valley, and San Gabriel Valley. Nearby attractions include The Rose Bowl, Huntington Library, Pasadena’s Playhouse Village, Dodger Stadium, Glendale Galleria, and much more. Cal State University of LA is also located within 6 miles of the property. Additionally, the property is located just blocks from heavy retail corridors on York Blvd, Figueroa Street, and a short drive to heavy retail corridors in Pasadena. Some local retailers include Trader Joes, Starbucks, CVS, Smart & Final, and several chain and boutique restaurants. Also within a short 10-minute drive are several schools, parks, medical facilities, and big box retailers. 500 Chestnut Avenue is a 2-story garden-style multifamily community - offering approximately 16,840 SF of rentable living space spanning across approximately 30,000 SF of land. The property features 8, 1-bedroom/1- bathroom units, 5, 2-bedroom/1-bathroom units, and 7, 2-bedroom/1.5-bathroom units averaging 619, 860, and 900 square feet, respectively. Tenants in the community enjoy amenities such as secured gated access, ample on-site parking, an on-site laundry facility, access to on-site management, open space, and well-maintained matured landscaping. Select units feature renovated floorplans that include amenities like new hardwood-like flooring, foot moldings, recessed lighting, quartz countertops, newer kitchen cabinetry, kitchen appliances, upgraded bathrooms with vanity lighting and tiled shower walls, hallway storage, walk-in closets, mirrored closet doors, ceiling fans, wall AC units, and more.
See more
FeaturesGeneralSewer PublicSewer
Heating WallFurnace
Cooling WallWindowUnits
Zoning LARD1.5
HOA 0.0
Garage Spaces 0.0
Pool Features None
Year Built 1930
Stories 2
Levels Two
Property SubType Apartment
Gross Income 404295.0
Community Features Curbs Sidewalks
County Los Angeles
Net Operating Income 230708.0
Operating Expense 161458.0
Insurance Expense 7373.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Merge onto CA-110/State Hwy 110/Pasadena Fwy Exit York Blvd Continue onto Salonica St Turn right onto Bridewell St Turn Left on Elgin Street
City Los Angeles
Entry Location 1
View Y/N N
Senior Community Y/N N
Open Parking Spaces 33.0
Total Units 20
MLS Area 632 - Highland Park
Lot Size Square Feet 30000.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 19
Street Name Chestnut
Listing Terms Cash CashtoNewLoan
Spa Features None
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 12516.0
Home Warranty Y/N N
Fuel Expense 7007.0
Trash Expense 9211.0
Water Sewer Expense 12515.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 0
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 12
Total Actual Rent 398755.0
Property Sub Type Additional Apartment
Taxes 63953.0
Cap Rate 4.52
See more
ExteriorLot Features Item1620UnitsAcre
Water Source Public
Total Parking 33.0
Lot Size Area 30000.0
Number of Buildings 3
Spa N
Building Area Total 16840.0
Lot Size Acres 0.6887
Lot Size Units SquareFeet
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 20
Number of Separate Electric Meters 20
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
See more
InteriorTotal Stories 2
Common Walls Item2CommonWalls
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Street Suffix Avenue
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
See more
* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $35,625
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,999,871
Percent of Sale Price 61%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 2/14/2024 | $5,100,000 | | Listed Price |