5274 Ithaca Avenue,Los Angeles, CA 90032
Los Angeles, CA 90032
Description
The James Group is pleased to present 5274 Ithaca Ave, a 9 unit apartment offering in the established Eastside neighborhood of El Sereno. Built in 1963, the property has a desirable unit mix including (1) 3 bed / 1 bath, (4) 2 bed / 1 bath, and (4) 1 bed / 1 bath units spread out over 5,439 square feet, and sits on a generous 9,601 square foot LARD1.5 zoned lot. 5274 Ithaca is a value-add opportunity with approximately 22% upside in rents, giving a future investor a clear path to grow income through strategic rent adjustments and targeted unit improvements as tenancies turn. Three units, (1) 1 bed / 1 bath and (2) 2 bed / 1 bath, will be delivered vacant. A new owner can lease them at market rents on day one while collecting strong in place cash flow.El Sereno sits at the crossroads of LA's Eastside, bordered by South Pasadena, Alhambra, and Lincoln Heights. The property is approximately 2 miles from Cal State LA and just over 3 miles from the USC Health Sciences Campus, home to Keck Hospital of USC. Those two major employers support a deep and steady renter base. Access to the 10 and 710 freeways, the Huntington Drive corridor, and the Metrolink San Bernardino Line at Cal State LA connects tenants to Downtown LA, Pasadena, and the San Gabriel Valley in minutes. Residents also enjoy nearby dining, retail, and green space such as Ascot Hills Park. With a well located building, real rental upside, and vacancies on day one, this is an opportunity to own a generational asset in one of LA's most connected Eastside neighborhoods.
Details
| MLS # | 26750675 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 191 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | William James |
Features
| Bed(s) | 15 |
|---|---|
| Bath(s) | 10 |
| SQ Feet | 5,439 |
| Story(s) | 2 |
| Units | 9 |
| Building(s) | 3 |
| Zoning | LARD1.5 |
| Acreage | 0.22 |
| Property View | Yes |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Refrigerator |
| Fireplace Yes / No | No |
Exterior
| Security Features | Carbon Monoxide Detectors, Smoke Detectors, Window Bars |
|---|---|
| Construction Materials | Stucco |
Parking
| Parking Features | Assigned |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90032 |
| Area | 621 El Sereno |
| Listing VS Median (in 90032) | |
Price: $1,495,000 low | high Med: $784,000 sqft: 5,439 low | high Med: 996 $ / sqft: $275 low | high Med: $895 On site: 191 low | high Med: 166.5 | |
Market Activity 90032
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90032 |
| Area | 621 El Sereno |
| Listing VS Median (in 90032) | |
Price: $1,495,000 low | high Med: $784,000 sqft: 5,439 low | high Med: 996 $ / sqft: $275 low | high Med: $895 On site: 191 low | high Med: 166.5 | |
 | $1,375,0005388 5396 AlhambraLos Angeles, CA 90032 |