Properties | Lynnfield Apartments

Lynnfield Apartments

16-Unit Apartment Community

4929 LYNNFIELD ST | LOS ANGELES, CA

Sales Price: $2,500,000

Units: 16

Price per Unit: $156,250

Price per Sq. Ft.: $184.03

Year Built: 1965

Gross Bldg. Sq. Ft.: 13,585

On Market Date: 9/8/16

Close of Escrow: 2/16/17

The Harris Group, as the exclusive listing agent, is pleased to announce the sale of 4929 Lynnfield, a 16 unit multifamily apartment building located in the up-and-coming El Sereno Neighborhood in East Los Angeles. Built in 1965, 4929 Lynnfield offers investors the opportunity to acquire a value-add asset in Los Angeles. Comprised of one building, the two story apartment complex is located on approximately 0.2992 acres with hillside views in the heart of El Sereno.

The asset offers an attractive unit mix that is comprised of one (1) one bedroom unit and fifteen (15) two bed/one bath townhome units that average approximately 838 square feet. The townhome style floor plans feature tile flooring, balconies, skylights, and sweeping hillside views. To complement the units, the property features mature landscaping, covered parking and new exterior windows. Located in one of the hottest residential markets in Los Angeles- El Sereno is quickly becoming home to the new hipster movement (young, trendy, college educated) migrating from the already high-priced Highland Park neighborhood. This offering represents an investor with the opportunity to get in early, in an already gentrifying neighborhood, coupled with a significant value add repositioning plan. 

 
  • Rare Opportunity to Acquire 2 Bedroom Units Under $160,000 Per Unit in Eastern Los Angeles
  • Well Located Asset in the Trendy El Sereno Neighborhood of East Los Angeles
  • Attractive Townhome Floorplans Units Feature Balconies, Skylights, Hillside Views and Tile Flooring
  • Offered on a Free & Clear Basis - Allows an Investor to Take Advantage of Higher Available Leverage and Historically Low Interest Rates
  • Ability to Invest Early in an Already Gentrifying Neighborhood
  • Conveniently Located Approximately 2.0 Miles from Cal State LA Metrolink/Metro Silver Line Station, Which Connects to the LA Union Station with Connections/Transfers to the Metro Light Rail
  • One of Only 5 Multifamily Buildings in East Los Angeles Have Been Built Since 2000