5952-5960 Benner St
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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.
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 | Apartment Style | Low Rise |
Price Per Unit | $409,901 CAD | Building Class | C |
Sale Type | Investment | Lot Size | 0.41 AC |
Cap Rate | 6.70% | Building Size | 9,805 SF |
Gross Rent Multiplier | 10.68 | Average Occupancy | 100% |
No. Units | 14 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1959 |
Property Subtype | Apartment | Parking Ratio | 1.43/1,000 SF |
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 |
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Walk Score ®
Very Walkable (82)
PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $1,443,499 CAD | |
Land Assessment | $3,965,665 CAD | Total Assessment | $5,409,164 CAD |
PROPERTY TAXES
Parcel Numbers
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) |
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5952-5960 Benner St
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