Multifamily

2755 E 58th St

2755 E 58th St, Huntington Park, CA 90255

Listing Price: $1,900,000

Cap Rate
4.04%
Number of Units
9
Price/Unit
$211,111
Price/Gross SF
$324.01
Gross SF
5,864

Investment Overview

Marcus & Millichap, as the exclusive listing broker, is proud to present 2755 E 58th Street, a nine-unit multifamily property located in the extremely dense rental pocket of Huntington Park, CA. The property sits on 6,682 square feet of land and consists of five two-bedroom units and four one-bedroom units totaling 5,864 rentable square feet. A new owner will benefit from multiple enclosed garages providing space for eight vehicles or for additional storage. There is also potential to create an additional income stream via the currently unused laundry room located at the rear of the property. This offering is a true value-add opportunity with approximately 46% upside in rents. The average rent at 2755 E 58th Street is only $1,100 per unit while similar one-bedroom units in Huntington Park are averaging $1,550 per month and two-bedroom units are achieving $1,800 per month. With a proper renovation program, a savvy investor can realize the delta between current and market rents to dramatically improve income. The property is ideally situated approximately 4.5 miles from DTLA and among the 10, 5, 710, 105, and 110 Freeways. The property’s location is also favorable by being only one block from Huntington Park High School and from the heaviest retail corridor in Huntington Park – the Pacific Boulevard Shopping District. Some retail amenities within walking distance include The Home Depot, Tierra Mia Coffee, Bank of America, Chase Bank, In-N-Out, McDonald’s, Harbor Freight Tools, CVS, Community Hospital of Huntington Park, and plenty more.

Investment Highlights

  • Not Subject to Los Angeles Rent Control – Higher Allowable Annual Rent Increases of 5 Percent Plus CPI
  • Mostly Two Bedroom Units
  • True Value-Add Opportunity – Current Rents Average $1,100 per Month While Similar Huntington Park Properties Achieve $1,550 for One Bedroom Units and $1,800 for Two Bedroom Units
  • Approximately 46 Percent Upside in Rental Income
  • Eight Enclosed Garage Spaces -- A Coveted Amenity Within Huntington Park
  • Brand New Electrical Systems – All New Main Panel and Subpanels
  • Central Location -- Approximately 4.5 Miles from DTLA and Only a Five Minute Walk to Huntington Park High School and the Major Retail Corridor Along Pacific Boulevard
  • No Seismic Retrofit Repairs Required (Buyer to Verify)

Exclusively Listed By

Listing Price: $1,900,000

Cap Rate
4.04%
Number of Units
9
Price/Unit
$211,111
Price/Gross SF
$324.01
Gross SF
5,864

Investment Highlights

  • Not Subject to Los Angeles Rent Control – Higher Allowable Annual Rent Increases of 5 Percent Plus CPI
  • Mostly Two Bedroom Units
  • True Value-Add Opportunity – Current Rents Average $1,100 per Month While Similar Huntington Park Properties Achieve $1,550 for One Bedroom Units and $1,800 for Two Bedroom Units
  • Approximately 46 Percent Upside in Rental Income
  • Eight Enclosed Garage Spaces -- A Coveted Amenity Within Huntington Park
  • Brand New Electrical Systems – All New Main Panel and Subpanels
  • Central Location -- Approximately 4.5 Miles from DTLA and Only a Five Minute Walk to Huntington Park High School and the Major Retail Corridor Along Pacific Boulevard
  • No Seismic Retrofit Repairs Required (Buyer to Verify)

Investment Overview

Marcus & Millichap, as the exclusive listing broker, is proud to present 2755 E 58th Street, a nine-unit multifamily property located in the extremely dense rental pocket of Huntington Park, CA. The property sits on 6,682 square feet of land and consists of five two-bedroom units and four one-bedroom units totaling 5,864 rentable square feet. A new owner will benefit from multiple enclosed garages providing space for eight vehicles or for additional storage. There is also potential to create an additional income stream via the currently unused laundry room located at the rear of the property. This offering is a true value-add opportunity with approximately 46% upside in rents. The average rent at 2755 E 58th Street is only $1,100 per unit while similar one-bedroom units in Huntington Park are averaging $1,550 per month and two-bedroom units are achieving $1,800 per month. With a proper renovation program, a savvy investor can realize the delta between current and market rents to dramatically improve income. The property is ideally situated approximately 4.5 miles from DTLA and among the 10, 5, 710, 105, and 110 Freeways. The property’s location is also favorable by being only one block from Huntington Park High School and from the heaviest retail corridor in Huntington Park – the Pacific Boulevard Shopping District. Some retail amenities within walking distance include The Home Depot, Tierra Mia Coffee, Bank of America, Chase Bank, In-N-Out, McDonald’s, Harbor Freight Tools, CVS, Community Hospital of Huntington Park, and plenty more.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower