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Christopher Rubio-Novack

rubio.realestate@gmail.com +1(310) 467-7189

$ 1,998,000

Est. payment | -/mo

9,596 Sqft Lot

Save

$ 1,998,000

Est. payment | -/mo

Save

9,596 Sqft Lot

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-29575

HOA Y/N No

Year Built 1951

Lot Size 9,596 Sqft

Property Sub-Type Mixed Use

Property Description

Exceptional income-producing investment and redevelopment opportunity in Highland Park! Prominently located at the corner of N. Figueroa Street and St. Albans Street, this offering includes two adjoining RD1.5-1 parcels totaling approximately 9,595 sq. ft. The existing two-story building contains approximately 6,478 sq. ft. of assessor-reported improvements and five fully leased units: three residential units and two commercially leased live/work-style spaces. Per seller, annual gross rental income is approximately $142,100. A separate, currently vacant garage-style space is used for warehouse-type storage, adding flexibility for future use, subject to applicable approvals. Ideal for investors seeking an established income stream, buyers looking to hold or improve the existing property, and developers evaluating future construction. Potential strategies include maintaining current rental operations, renovating or repositioning the building, exploring adaptive reuse, developing the adjoining parcel, or pursuing a larger residential project. A preliminary architectural feasibility study examines six detached-style residences, six primary apartments plus two ADUs, and affordable-housing density bonus alternatives. The study illustrates a 16-unit concept (14 primary residences plus two ADUs) and identifies a conditional 17-unit arithmetic scenario (15 primary residences plus two ADUs). Neither scenario is approved or established as the site's maximum; feasibility depends on affordability eligibility, site constraints, and City review. Conceptual plans and renderings are included in the feasibility study, available upon request from the listing agent. A compelling opportunity to collect rental income today while evaluating long-term options in Northeast Los Angeles. Buyer to independently verify leases, income, lawful occupancy and uses, square footage, zoning, and all development potential.

Location

State CA

County Los Angeles

Area 632 - Highland Park

Zoning RD 1.5

Interior

Heating Ductless

Cooling Ductless

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features None

Garage Spaces 2.0

Garage Description 2.0

Fence None

Pool None

Community Features Street Lights

View Y/N No

View None

Private Pool No

Building

Lot Description Sprinklers None

Sewer Public Sewer

Water Public

Others

Senior Community No

Tax ID 5483016017

Energy Description 280.0

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Vicken Tasmajian Beverly and Company, Inc. (626) 676-1614, DRE #01950844

Nearby School & Business

+1(310) 467-7189

rubio.realestate@gmail.com

2603 Camino Ramon Suite 200, San Ramon, CA 94583

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