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5952-5960 Benner St

14 Unit Apartment Building $5,738,618 CAD ($409,901 CAD/Unit) 6.70% Cap Rate Los Angeles, CA 90042

Investment Highlights

  • Prime Highland Park Location
  • Great ADU Opportunity to Nearly Double the Unit Count Under SB1211
  • Property is Gated and Secured
  • Rare Opportunity in a Low Velocity Submarket
  • Easily Maintained Landscaping with Center Courtyard
  • On-site Laundry Facility Available

Executive Summary

Marcus and Millichap is pleased to present a fourteen (14) unit apartment building located at 5952-5960 Benner Street in Los Angeles, California. The subject property is situated in a prime Highland Park location, north of Arroyo Seco Parkway and east of S Avenue 60.
Highland Park is a high density rental market adjacent to Eagle Rock, Pasadena, and Montecito Heights. These surrounding submarkets are major employment centers for the demographic that resides in Highland Park, and make it a very commutable area for its residents. Between Highland Park’s two (2) main streets (York Boulevard and Figueroa), you will frequently find neighborhood coffee shops, thrift stores, and new nightlife establishments booming with life. This submarket’s tree-lined residential streets mix with a walkable urban culture, but it is also known for its commuter friendly transportation hubs and thoroughfares. The Metro is an at-grade light rail station near the intersection of North Avenue 57 at Marmion Way (one block north of North Figueroa Street). It is the first station on the line going west toward Atlantic station that’s in the city of Los Angeles. Highland Park has just as many contemporary landmarks as it does ones that predate the neighborhood’s distinction as one of Los Angeles’ hippest locations.
Built in 1959 and 1961, this property consists of a ideal unit mix of six (6) one-bedroom / one-bathroom units, three (3) two-bedroom / one-bathroom units, two (2) two-bedroom / one-and-a-half-bathroom units, and three (3) two-bedroom / two-bathroom units. Select units have been renovated with new appliances, flooring, air conditioning, and more. The property is gated and secure, featuring easily maintained landscaping and a large center courtyard perfect for tenant enjoyment. An on-site laundry facility is available. The property is equipped with fourteen (14) on-site parking spaces with potential to build into several ADU unit(s) given the property has two (2) separate parcels and may allow a path through SB1211 to nearly double the unit count. Tenants will love being within a few miles of many trendy restaurants, nightlife, and entertainment options such as The Lodge Room, Highland Park Bowl, Kitchen Mouse Cafe, The Offbeat, and Hermon Park.
Positioned in a prime Highland Park Location, this offering presents an exceptional opportunity for an investor to capitalize on a large, rare corner double-lot with two (2) separate APNs in a low velocity submarket.

Property Facts

Price $5,738,618 CAD
Price Per Unit $409,901 CAD
Sale Type Investment
Cap Rate 6.70%
Gross Rent Multiplier 10.68
No. Units 14
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.41 AC
Building Size 9,805 SF
Average Occupancy 100%
No. Stories 2
Year Built 1959
Parking Ratio 1.43/1,000 SF

Unit Amenities

  • Microwave
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Controlled Access
  • Public Transportation
  • Individual Locking Bedrooms
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 6 - 750
2+1 3 - 780
2+1.5 2 - 800
2+2 3 - 850
Walk Score ®
Very Walkable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 5492-019-032
  • 5492-019-028
Land Assessment
$3,965,665 CAD
Improvements Assessment
$1,443,499 CAD
Total Assessment
$5,409,164 CAD

zoning

Zoning Code RD1.5, Los Angeles (Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations)
RD1.5, Los Angeles (Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations)
  • Listing ID: 34396297

  • Date on Market: 2025-01-07

  • Last Updated:

  • Address: 5952-5960 Benner St, Los Angeles, CA 90042

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