The James Group is pleased to present 5274 Ithaca Ave, a 9 unit apartment offering in the established Eastside neighborhood of El Sereno. Built in 1963, the property has a desirable unit mix including (1) 3 bed / 1 bath, (4) 2 bed / 1 bath, and (4) 1 bed… Read More / 1 bath units spread out over 5,439 square feet, and sits on a generous 9,601 square foot LARD1.5 zoned lot. 5274 Ithaca is a value-add opportunity with approximately 22% upside in rents, giving a future investor a clear path to grow income through strategic rent adjustments and targeted unit improvements as tenancies turn. Three units, (1) 1 bed / 1 bath and (2) 2 bed / 1 bath, will be delivered vacant. A new owner can lease them at market rents on day one while collecting strong in place cash flow.El Sereno sits at the crossroads of LA's Eastside, bordered by South Pasadena, Alhambra, and Lincoln Heights. The property is approximately 2 miles from Cal State LA and just over 3 miles from the USC Health Sciences Campus, home to Keck Hospital of USC. Those two major employers support a deep and steady renter base. Access to the 10 and 710 freeways, the Huntington Drive corridor, and the Metrolink San Bernardino Line at Cal State LA connects tenants to Downtown LA, Pasadena, and the San Gabriel Valley in minutes. Residents also enjoy nearby dining, retail, and green space such as Ascot Hills Park. With a well located building, real rental upside, and vacancies on day one, this is an opportunity to own a generational asset in one of LA's most connected Eastside neighborhoods. Read Less
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
178
Last Updated
Property Type
Other
Beds
15
Square Ft.
5,439
Lot Size
0.22 Acres
Year Built
1963
MLS Number
26750675
Additional Details
Appliances & Equipment
Refrigerator, Range/Oven
Building
5,439 sq ft, Built in 1963, Levels: Multi Levels, Attached, Mid-Century
Cooling
Wall/Window
Disclosures
As Is
Exterior Features
Stucco
Fireplaces
None
Garage
Assigned
Heating
Wall
Lot
LotAcreage: 0.2205, LotSizeArea: 9,604, Single Lot, City
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