See all 14 photos
14 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$1,495,000
Est. payment /mo
15 Beds
10 Baths
5,439 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,439 sqft
Price per Sqft $274
MLS Listing ID 26750675
Bedrooms 15
HOA Y/N No
Year Built 1963
Lot Size 9,604 Sqft
Property 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.
Location
State CA
County Los Angeles
Area 621 - El Sereno
Zoning LARD1.5
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Assigned
Pool None
View Y/N Yes
View City Lights
Total Parking Spaces 10
Private Pool No
Building
Story 2
Entry Level Multi/Split
Architectural Style Mid-Century Modern
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5217018005
Security Features Carbon Monoxide Detector(s),Smoke Detector(s),Window Bars
Special Listing Condition Standard
Read Less Info
Listed by William James Lyon Stahl Investment Real Estate, Inc. #01734419
Nearby Locations
GET MORE INFORMATION