Los Angeles CA Multi Family for Sale
$1,600,000
553 Stanford Avenue Los Angeles, CA 90013
- Type:
- Cluster
- Sq.Ft.:
- 7,440
- Status:
- Active
- Beds:
- 4
- Lot size:
- 0.06 Acres
- Year built:
- 1907
- Baths:
- 17.00
- MLS#:
- 24450419
ADDITIONAL INFORMATION
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 7.87% CAP and 6.71 GRM on current rents with upside to operate at a 17.28% CAP and a 3.98 GRM. The property is a three-story brick building constructed in 1908 with a unit mix of 4 one-bedroom units and 13 studio units with 7 of 17 units renovated with one Studio unit 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, Manuel, Bestia, De La Noma 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 Apolis: Common Gallery, Arts District Co-op, Buru and Le Labo.
Los Angeles Real Estate
The median home value in Los Angeles, CA is $912,500. This is higher than the county median home value of $796,100. The national median home value is $338,100. The average price of homes sold in Los Angeles, CA is $912,500. Approximately 33.96% of Los Angeles homes are owned, compared to 58.13% rented, while 7.92% are vacant. Los Angeles real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Los Angeles real estate agent to arrange a tour today!
Los Angeles, California 90013 has a population of 3,902,440. Los Angeles 90013 is less family-centric than the surrounding county with 28.08% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Los Angeles, California 90013 is $69,778. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Los Angeles 90013 is 36.2 years.
Los Angeles Weather
The average high temperature in July is 83.6 degrees, with an average low temperature in January of 45.9 degrees. The average rainfall is approximately 15.5 inches per year, with 0 inches of snow per year.