A 70-Unit Value-Add Opportunity-Highland Park | 121 N Avenue 50
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A 70-Unit Value-Add Opportunity-Highland Park 121 N Avenue 50
70 Unit Apartment Building $9,500,000 ($135,714/Unit) Los Angeles, CA 90042
Investment Highlights
- Compelling Value-Add – Over 75% Upside
- Unique Real Estate with Tall Ceilings, Historic Exterior, and Lot Style Layouts is a Leasing Advantage
- 10,000 Square Foot Parking Lot Ideal for ADUs or Redevelopment
Executive Summary
WDIS, Inc., as the exclusive advisor, is pleased to present Savoy (the "Property") for sale, a 70-unit, seven-building community that was once home to the historic Occidental College. Built in various stages between 1915 and 1940, the main college building features tall ceilings, wide hallways, a large basement with conversion potential, and a surface parking lot. Adjacent to the main building are six single-story low-density buildings which include 28 efficiency units and 8 studio units. One of the bungalow buildings is situated on its own parcel, along with a surface lot, contributing to Savoy’s total surface lot area of 10,320 square feet.
Property Facts
| Price | $9,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $135,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.90 AC |
| No. Units | 70 | Building Size | 35,254 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1915 |
| Price | $9,500,000 |
| Price Per Unit | $135,714 |
| Sale Type | Investment |
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.90 AC |
| Building Size | 35,254 SF |
| No. Stories | 2 |
| Year Built | 1915 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 52 | - | - |
| 1+1 | 17 | - | - |
| 2+1 | 1 | - | - |
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Walk Score ®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 5468-004-010 | Improvements Assessment | $367,746 |
| Land Assessment | $161,252 | Total Assessment | $528,998 |
PROPERTY TAXES
Parcel Number
5468-004-010
Land Assessment
$161,252
Improvements Assessment
$367,746
Total Assessment
$528,998
zoning
| Zoning Code | LARD1.5 |
| LARD1.5 |
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Autumn Johnson -
Walker & Dunlop
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A 70-Unit Value-Add Opportunity-Highland Park | 121 N Avenue 50
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