For Sale
$1,500,000

2452 Zoe AveHuntington Park, CA 90255

Four-unit building, redevelopment potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Four-unit apartment building on a 9,894 SF lot in Huntington Park, CA.
  • HPR4YY zoning; buyer to verify development potential.
  • Infill location in a walkable neighborhood (Walk Score 92).
  • Potential to add Accessory Dwelling Units (ADUs).
  • Huntington Park allows for annual rent increases of 5% + CPI.

Property Details for 2452 Zoe Ave

Property type
Apartment buildings
Square Feet
3,211 SF
Year Built
1923
Buildings
3
Stories
1
Units
4

Location Insight

City
Huntington Park
County
Los Angeles
State
California
Latitude
33.979298827787
Longitude
-118.22881127582
2452 Zoe Ave, Huntington Park, California

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2452 Zoe Ave
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