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$ 6,950,000
Est. payment | /mo
32 Beds
24 Baths
13,674 SqFt
$ 6,950,000
Est. payment | /mo
32 Beds
24 Baths
13,674 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 13,674 sqft
Price per Sqft $508
MLS Listing ID 25572129
Bedrooms 32
HOA Y/N No
Year Built 1989
Lot Size 0.260 Acres
Property Description
We are pleased to present The Marq, a 24-unit multifamily investment opportunity located in the heart of Highland Park at 117 S Avenue 64, just south of York Boulevard and east of North Figueroa Street. Built in 1989, the property is exempt from the Los Angeles Rent Stabilization Ordinance, offering investors greater flexibility and income potential. The Marq features a highly desirable unit mix of 16 one-bedroom and eight two-bedroom apartments, with gated ground-level parking comprising 14 single spaces and 12 tandem spaces. This offering provides immediate strong in-place cash flow with a current 5.85% CAP rate and 10.56 GRM, and is priced attractively at $289,583 per unit. Most of the units have been extensively renovated and include modern finishes such as stainless steel appliances, quartz countertops, upgraded cabinetry, vinyl plank flooring, and central air conditioning. Second-floor units boast vaulted ceilings and private balconies, enhancing the tenant living experience. The secured-entry property also includes a community laundry room with two washers and two dryers. Positioned in one of Northeast Los Angeles' most vibrant and rapidly appreciating neighborhoods, The Marq benefits from strong rental demand and robust local demographics, with average household incomes around $125,000 and median home values exceeding $900,000 within a two-mile radius. The property offers easy access to Downtown Los Angeles, Pasadena, Glendale, Echo Park, and Silver Lake via the 110 Freeway and the nearby Metro Gold Line Highland Park Station. With a Walk Score of 92, residents enjoy close proximity to popular destinations including Highland Park Bowl, Kitchen Mouse, Civil Coffee, and a variety of local art galleries and boutiques, making The Marq a compelling opportunity for investors seeking stable cash flow and long-term appreciation in a prime location.
Location
State CA
County Los Angeles
Area 632 - Highland Park
Zoning LARD1.5
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Controlled Entrance, Covered, Gated
Total Parking Spaces 38
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5492035033
Special Listing Condition Standard
Listed by Neema Ahadian Marcus & Millichap