Highland Park Multifamily Investment
200 S Ave 59 Los Angeles, CA 90042
For Sale
$5,900,000
28-unit apartment community with value-add potential in Highland Park.
Lot Size0.79 Acres
Days on Market66
Property Features for 200 S Ave 59
General Information
- Standard status
- Active
- Lot size
- 0.79 Acres
- Property subtype
- Multifamily
Listing Agency:
Marcus & Millichap - Los Angeles
(213) 943-1897
Listed By:
Sean Rosenzweig · License #License(s): CA: 01406343
(213) 943-1897
Source:
Marcusmillichap
Added: May 21
Changed: Jul 10
Last Checked: Jul 24 at 1:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
Highland Cove is a 28-unit apartment community located at 200 S Avenue 59 in Highland Park. Constructed in 1963, this two-story property is situated on a 34,216-square-foot lot. The unit mix includes 22 one-bedroom units, five two-bedroom units, and one three-bedroom unit. The property features a central pool with a communal deck, secured gated parking for 35 vehicles, and laundry facilities. Since 2021, the current ownership has invested $456K in capital improvements, which includes renovating 16 unit interiors with modern finishes and completing building-wide upgrades such as pool re-plastering, a new pool deck, upgraded electrical panels, split-system HVAC units, and a full sewage line replacement. The remaining 12 unrenovated units offer rental upside, and the oversized lot presents additional development potential through the construction of new ADUs. Highland Cove is located two blocks south of Figueroa Street, placing residents in proximity to independent restaurants, coffee shops, boutiques, galleries, and nightlife. The Metro L Line is half a mile away, and the 110 Freeway is 0.2 miles from the property, providing access to Downtown LA, Burbank, Glendale & Pasadena.
Key Highlights
- Significant rental upside available through renovation of 12 unrenovated units (nearly 35%).
- $456K in capital improvements completed since 2021, including 16 renovated units, pool upgrades, new HVAC, and sewage line replacement.
- Prime Highland Park location, just two blocks from Figueroa Street's retail and dining.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 28-unit apartment community with value-add potential in Highland Park.
Where is this apartment building located?
The property is located at 200 S Ave 59 Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Significant rental upside available through renovation of 12 unrenovated units (nearly 35%).; $456K in capital improvements completed since 2021, including 16 renovated units, pool upgrades, new HVAC, and sewage line replacement.; Prime Highland Park location, just two blocks from Figueroa Street's retail and dining.
