Property Details for 2452 Zoe Ave

Year built

1923

Property size

3,211 SF

Property type

Commercial real estate

APN

6322-020-001

Description

This exceptional investment opportunity presents a four-unit apartment building situated on a sizable 9,894 square foot lot in Huntington Park, California. The property, located at 2452 Zoe Avenue, boasts a total of 3,211 square feet and features four one-bedroom units. Built in 1923, the single-story complex is comprised of three buildings and sits within a highly desirable, walkable neighborhood (Walk Score of 92). The current Net Operating Income (NOI) is $27,862, with a projected pro-forma NOI of $61,666, reflecting a potential for significant return on investment. The asking price is $1,500,000, translating to $375,000 per unit and $467.14 per square foot. The property is zoned HPR4YY, offering potential for redevelopment, although buyers are advised to conduct their own due diligence to verify development possibilities. The current cap rate is 1.86%, with a pro-forma cap rate of 4.11%. The location offers convenient access to employment centers, retail, and entertainment options in both Huntington Park and Downtown Los Angeles. The City of Huntington Park allows for higher allowable rent increases, potentially including annual increases of 5% plus CPI. The property's infill location and potential for adding Accessory Dwelling Units (ADUs) further enhance its long-term investment prospects. All information should be independently verified by the buyer.

Location Insight

City

Huntington Park

County

Los Angeles

State

California

Longitude

-118.22881127582

Latitude

33.979298827787