Search
129 S Avenue 64, Los Angeles, CA 90042
Image 2 for 129 S Avenue 64, Los Angeles, CA 90042
Image 3 for 129 S Avenue 64, Los Angeles, CA 90042
View Photos

129 S Avenue 64 Los Angeles, CA 90042

$3,695,000
  • 21 Beds
  • 13 Baths
  • 10,705 Sq.Ft.
For Sale
$3,695,000 Get Pre-Qualified
Map preview of 129 S Avenue 64, Los Angeles, CA 90042

Property Overview: 129 S Avenue 64 Los Angeles, CA has 21 bedrooms, 13 bathrooms, 10,705 living square feet and 12,545 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We just improved the pricing by $300k on this unique ultra value-add opportunity in Highland Park! The offering consists of 13 very large residential units with substantial rental and ADU upside. To further boost the already attractive metrics, the buyer can begin construction on 5 RTI ADUs shortly after closing (currently pending sanitation clearance, but can be delivered RTI), which would boost the unit count by nearly 50% to 18 units. Factoring in construction costs for these ADUs at $300/SF ($580k total), the all-in-cost per door comes down significantly to approximately $237k/door at a very attractive cap rate of 7.1% or 10.73 GRM - virtually unheard of in Highland Park. These are not "pro forma" figures and are not reliant on unit turns, and they take into account the cost of building the ADUs. The seller has priced the asset for the buyer to capture an instant equity spread from the construction of the ADUs. Furthermore, new owners can capture incredible upside potential by raising rents in the existing large units which cover an average area of over 800 square feet each. The size of the units results in quick lease-ups, and the property has the additional upside to an 14.6% cap rate and 5.65 GRM. The property is situated close to the vibrant York Blvd and Figueroa Street. Tenants will enjoy living close to trendy shops, galleries, pubs, and gourmet eateries such as Casa Bianca, Sage Bistro, Scoops, Guisados, Owl Bureau, Highland Park Bakery, and The York, located near the 110 (Arroyo Seco Parkway) and just 10 minutes from Downtown Los Angeles!Close to the Gold Line Lightrail, Metro Bus Stops, and major thoroughfares.

Listed by Armin Soleimani | BRE #01846872 | Global Platinum Properties, Inc.
Co-listed by Julio Ruiz | BRE #01911261 | Global Platinum Properties, Inc.
Last checked: 13 minutes ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 106
Get a $13,856 Cash Reward New

Buy this home with Ardent Real Estate Group and get $13,856 back.

Call/Text (714) 706-1823

Home details

Lot Sq. Ft
12,545
HOA Dues
$0/mo
Year built
1962
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24348687
City
Los Angeles
County
Los Angeles
Time on Site
107 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,383
  • Total Rent: $1,383
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,768
  • Total Rent: $1,768
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,335
  • Total Rent: $1,335
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,385
  • Total Rent: $1,385
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $993
  • Total Rent: $993
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,895
  • Total Rent: $2,895
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $728
  • Total Rent: $728
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,080
  • Total Rent: $1,080
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,080
  • Total Rent: $1,080
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,298
  • Total Rent: $1,298
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 12
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,066
  • Total Rent: $1,066
  • Pro Forma/Market Rent: $3,395
Unit Breakdown 13
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,054
  • Total Rent: $1,054
  • Pro Forma/Market Rent: $2,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.3%
  • Gross Rent Multiplier: 15.53
  • Gross Scheduled Income: --
  • Net Operating Income: $159,318
  • Gross Operating Income: $398,460
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 129 S Avenue 64

No upcoming open houses

Schedule Tour

Property Details for 129 S Avenue 64

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Stackable
Kitchen Information
  • Has Appliances
  • Dishwasher, Microwave, Refrigerator
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 16
  • Has Parking
  • Parking Features: Detached Carport
Lot Information
  • Lot Size Source: Owner
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 18
  • Parcel Number: 5492035026
  • Architectural Style: Traditional
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: From York Blvd: Turn South onto Avenue 64. The property is on the right-hand side.
View more facts & features

Local Los Angeles Agent

Sale History for 129 S Avenue 64

Last sold for $2,825,000 on June 9th, 2022

  • January, 2024

  • Jan 17, 2024

    Date

    Active

    CRMLS: 24348687

    $3,695,000

    Price

  • January, 2024

  • Jan 4, 2024

    Date

    Canceled

    CRMLS: 23332365

    $3,695,000

    Price

  • Nov 15, 2023

    Date

    Active

    CRMLS: 23332365

    $3,695,000

    Price

  • Listing provided courtesy of CRMLS

  • November, 2023

  • Nov 3, 2023

    Date

    Canceled

    CRMLS: 23309049

    $3,895,000

    Price

  • Sep 7, 2023

    Date

    Active

    CRMLS: 23309049

    $3,995,000

    Price

  • Listing provided courtesy of CRMLS

    We just improved the pricing by $100k on this unique ultra value-add opportunity in Highland Park! The offering consists of 13 very large residential units with substantial rental and ADU upside. To further boost the already attractive metrics, the buyer can begin construction on 5 RTI ADUs shortly after closing (currently pending sanitation clearance, but can be delivered RTI), which would boost the unit count by nearly 50% to 18 units. Factoring in construction costs for these ADUs at $300/SF ($580k total), the all-in-cost per door comes down significantly to approximately $250k/door at a very attractive cap rate of 6.8% or 11.13 GRM - virtually unheard of in Highland Park. These are not "pro forma" figures and are not reliant on unit turns, and they take into account the cost of building the ADUs. The seller has priced the asset for the buyer to capture an instant equity spread from the construction of the ADUs.Furthermore, new owners can capture incredible upside potential by raising rents in the existing large units which cover an average area of over 800 square feet each. The size of the units results in quick lease-ups, and the property has the additional upside to an 12.03% cap rate and 6.8 GRM.The property is situated close to the vibrant York Blvd and Figueroa Street. Tenants will enjoy living close to trendy shops, galleries, pubs, and gourmet eateries such as Casa Bianca, Sage Bistro, Scoops, Guisados, Owl Bureau, Highland Park Bakery, and The York, located near the 110 (Arroyo Seco Parkway) and just 10 minutes from Downtown Los Angeles!Close to the Gold Line Lightrail, Metro Bus Stops, and major thoroughfares.

  • September, 2021

  • Sep 27, 2021

    Date

    Active

    CRMLS: 21782986

    $3,425,000

    Price

  • Sep 17, 2021

    Date

    Active Under Contract

    CRMLS: 21782986

    $3,425,000

    Price

  • Sep 13, 2021

    Date

    Active

    CRMLS: 21782986

    $3,425,000

    Price

  • Listing provided courtesy of CRMLS

    Great opportunity to acquire a well maintained 13 unit apartment building with pool, laundry and designated tenant parking. Commuter friendly central LA location easy to access Downtown, Westside & Valley areas east & west. LA retrofit completed. Below market rents provides huge upside potential. Has not been on the market since the mid 80's.

  • August, 2019

  • Aug 15, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 129 S Avenue 64

Assessed Value (2020): $431,085
Year Land Value Improved Value Assessed Value
2020 $171,890 $259,195 $431,085

Home Value Compared to the Market

This property vs the competition

129 S Avenue 64 is listed 201.63% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $345.17 per/sqft which puts the price per square foot 55.4% lower than the median price per square foot for the city of Los Angeles.

About 129 S Avenue 64

Detailed summary of property

129 S Avenue 64 is a multi family located in Los Angeles, CA 90042 and is currently for sale. This multi family property offers 21 bedrooms, 13 bathrooms, roughly 10,705 living square feet, and sits on an approximately 12,545 square foot lot. 129 S Avenue 64 was first listed on ArdentRealEstateGroup.com on January 17, 2024. The homeowner is currently asking $3,695,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 201.63% higher than the median priced home. Local competing homes currently for sale include 2506 W Sunset Blvd, 645 S Los Angeles St and 4253 Franklin Ave. While the average home in Los Angeles, CA is selling in 96 days, 129 S Avenue 64 has a days on market of 106 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 129 S Avenue 64 Los Angeles, CA 90042 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 129 S Avenue 64

Public county record property details
Beds
--
Baths
13
Year built
1962
Sq. Ft.
10,705
Lot Size
12,531
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
18,19
APN
5492-035-026

The source for these homes facts are from public records.

90042 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$999,000
Median List Price/Sq.Ft.
$721
Median Sold Price
$1,000,000
Median Sold Price/Sq.Ft.
$858
Total Inventory
90
Median Sale to List Price %
125.16%
Avg Days on Market
32
Loan Type
Conventional (31.25%), FHA (6.25%), VA (0%), Cash (12.5%), Other (12.5%)

Tour This Home

Buy with Ardent Real Estate Group and save $13,856.

Image Description
Contact Jon
Los Angeles Agent
Call, Text or Message
(714) 706-1823
Get a $13,856 Cash Reward New

Buy this home with Ardent Real Estate Group and get $13,856 back.

Call/Text (714) 706-1823

Homes for Sale Near 129 S Avenue 64

Nearby Homes for Sale

1684 Murchison St, Los Angeles, CA 90033
$3,875,000
32 Beds
18 Baths
12052 Sq.Ft.
1684 Murchison St
Los Angeles, CA 90033
1910 Lincoln Ave, Pasadena, CA 91103
$3,999,000
16 Beds
16 Baths
8430 Sq.Ft.
1910 Lincoln Ave
Pasadena, CA 91103
2140 Lemoyne St, Los Angeles, CA 90026
$3,200,000
3 Beds
2 Baths
-- Sq.Ft.
2140 Lemoyne St
Los Angeles, CA 90026
2221 Michigan Ave, Los Angeles, CA 90033
$4,300,000
2 Beds
32 Baths
9229 Sq.Ft.
2221 Michigan Ave
Los Angeles, CA 90033
260 Linda Rosa Ave, Pasadena, CA 91107
$4,288,000
15 Beds
11 Baths
6068 Sq.Ft.
260 Linda Rosa Ave
Pasadena, CA 91107
2512 Berkeley Ave, Los Angeles, CA 90026
$4,395,000
12 Beds
12 Baths
6300 Sq.Ft.
2512 Berkeley Ave
Los Angeles, CA 90026
3623 Monon St, Los Angeles, CA 90027
$3,215,000
14 Beds
10 Baths
7016 Sq.Ft.
3623 Monon St
Los Angeles, CA 90027
1006 S Record Ave, Los Angeles, CA 90023
$3,500,000
22 Beds
18 Baths
9798 Sq.Ft.
1006 S Record Ave
Los Angeles, CA 90023

Recently Sold Homes Near 129 S Avenue 64

120 S Avenue 64, Los Angeles, CA 90042
$2,872,698 Last Sold Price
6 Beds
7 Baths
4371 Sq.Ft.
120 S Avenue 64
Los Angeles, CA 90042
221 S Avenue 66, Los Angeles, CA 90042
$900,000 Last Sold Price
7 Beds
4 Baths
2944 Sq.Ft.
221 S Avenue 66
Los Angeles, CA 90042
309 S Avenue 63, Los Angeles, CA 90042
$1,225,000 Last Sold Price
1238 Beds
929 Baths
1720 Sq.Ft.
309 S Avenue 63
Los Angeles, CA 90042
6423 Monterey Rd, Los Angeles, CA 90042
$4,760,000 Last Sold Price
22 Beds
12 Baths
10168 Sq.Ft.
6423 Monterey Rd
Los Angeles, CA 90042

Related Resources to 129 S Avenue 64

New Listings in 90042
Popular Zip Codes
Popular Cities
Other Los Angeles Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Call