$1,450,000
We are pleased to present 553 Stanford Ave, a 17-unit multifamily community located near the Arts District of Downtown Los Angeles, priced at a 9.16% CAP and 5.52 GRM on current rents with upside to operate at a 13.97% CAP and a 4.43 GRM. The property is a three-story brick building constructed in 1908 with a unit mix of four one-bedroom units and thirteen studio units with five studio units that will be delivered VACANT. 553 Stanford Ave is centrally located in DTLA near the Arts Districts in close proximity to the 10, 110, 101 and 5 freeway, in one of the most desirable and trendy submarkets that has recently undergone immense transition. The location offers tenants easy access to a plethora of restaurants such as Sushi Gen, Maccheroni Republic, Marugame Monzo, Baroo, Manuela, Bestia, De La Nonna and much more. The Arts Districts also offers amenities and attractions such as ROW DTLA, Art Share LA, Arts District Brewing Company, Angel City Brewery, Hauser & Wirth, as well as retailers such as Arts District Co-op, Buru and Le Labo. Contact the listing broker for additional information.
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Listed by Casey Lins with Kidder Mathews of California, Inc. (858) 369-3010
Property Type
Residential Income
Status
Active
MLS Number
25620269
Year Built
1907
Lot Size
2,753 sq ft