2966 Clarendon Avenue,  Huntington Park  (90255)

$5,300,000

19 bedrooms 19   26 bathrooms 26   14160 square feet 14,160
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Listed By: Adam Zunder of Iconic Investments

PROPERTY DETAILS

Address: view address
Huntington Park, CA 90255
Map Location
Features: Multi-level
Bedrooms:19Bathrooms:26
Square Feet:14,160 sq.ft.Lot Size:15869.0
Year Built:1964Property Type:Multi Family
County:Los AngelesZoning:HPR3YY
List Date:2024-02-16Listing Number:24359147
Listed By:Iconic InvestmentsDays on market:292

PROPERTY DESCRIPTION

We are pleased to present for sale, The Clarendon, a twenty-two-unit apartment building in the Huntington Park submarket of Los Angeles. Located on a quiet residential street comprised of mostly single-family homes, the property is a charming, center-courtyard, walk-up. Built in 1964, The Clarendon features a unit mix of twelve studios, two 1-bedroom/1-bath, three 2-bedroom/1-bath, and a four-bedroom/2-bath house. Recently completed in 2022 was the addition of four additional units comprised of one 2-bedroom/1-bath, one 2-bedroom/2-bath, and two 3-bedroom/2-bath. The additional units are master metered for both gas and electric. Why buy in Huntington Park? Unlike the City of Los Angeles, Huntington Park currently allows for rent increases of 5% + CPI, which is equivalent to 10%. The City of Los Angeles has not allowed rent increases since 2019 and increases on rent-controlled buildings are generally capped at no more than 4%. By allowing higher rent increases Huntington Park gives landlords great flexibility in achieving rents that are closer to market, which is especially beneficial during high inflationary periods. Another benefit is the utility costs are considerably lower in comparison to the City of Los Angeles. New ownership can continue to improve the asset by renovating units as they become vacant, implementing RUBS to recapture utility costs, replacing the leased laundry machines with landlord owned, and continue to give the below market tenants annual rent increases.

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Interior

Cooling & Heating

Cooling features:Wall/Window Unit(s)Heating features:Wall Furnace
Heating:Yes

Exterior

Parking

Parking features:Detached Carport

Property and Lot Details

Fee

Special Listing Conditions:Standard

Building Information

Year Built:1964Levels:Multi/Split
Stories:2

Lot

Lot Dimensions:15869.0Zoning:HPR3YY

Construction

Building Area total:14160.0

Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.

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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.

Loading Data...

Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.

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Listed By: Adam Zunder of Iconic Investments