228 Avenue 50Los Angeles, CA 90042

This exceptional multi-tenant retail property, located in the vibrant Highland Park neighborhood of Los Angeles, CA, presents a compelling investment opportunity. The 6,573 square foot building, situated on a 0.28-acre lot, comprises four units with a diverse tenant mix including a grocery store and storefronts. Boasting 100% occupancy and a strong NOI of $231,764 (pro-forma NOI of $237,507), this stabilized investment offers a 6.16% cap rate (pro-forma 6.31%). The property underwent a complete renovation in 2023, exceeding $2,000,000 in improvements, including a new roof, electrical and plumbing systems, tankless water heaters, exterior stucco, LED lighting, storefront windows and doors, HVAC systems, and a repaved parking lot with 14 spaces. The property also features a 22kW/DC solar panel system. Located at 224-228 N Avenue 50 & 4966-4968 Monte Vista St (APN: 5467-030-001, 5467-030-002, & 5467-030-009), it benefits from its proximity to the 110 Freeway and the Metro Gold Line, offering convenient access to Downtown Los Angeles, Pasadena, and Glendale. The property is zoned LAR1 and enjoys a walk score of 85, situated within a thriving community with a high average household income. The asking price is $3,765,000 ($572.80/sq ft). Two small billboards on the property offer additional income potential. Built between 1907 and 1927, this property seamlessly blends classic aesthetics with modern upgrades.