2966 Clarendon Avenue, Huntington Park, CA 90255 - Berkshire Hathaway HomeServices California Properties

2966 Clarendon Avenue, Huntington Park, CA 90255

$5,300,000 Approx. USD 19 beds, 26 baths
14,160 sqft

Listing Agent


Adam Zunder | adam@iconicinv.com
Lic#: 01821053
Broker: Courtesy of Iconic Investments

Agent Remarks

We are pleased to present for sale, The Clarendon, a twenty-two-unit apartment building in the Huntington Park submarket of Los Angeles. Located on a quiet residential street comprised of mostly single-family homes, the property is a charming, center-courtyard, walk-up. Built in 1964, The Clarendon features a unit mix of twelve studios, two 1-bedroom/1-bath, three 2-bedroom/1-bath, and a four-bedroom/2-bath house. Recently completed in 2022 was the addition of four additional units comprised of one 2-bedroom/1-bath, one 2-bedroom/2-bath, and two 3-bedroom/2-bath. The additional units are master metered for both gas and electric. Why buy in Huntington Park? Unlike the City of Los Angeles, Huntington Park currently allows for rent increases of 5% + CPI, which is equivalent to 10%. The City of Los Angeles has not allowed rent increases since 2019 and increases on rent-controlled buildings are generally capped at no more than 4%. By allowing higher rent increases Huntington Park gives landlords great flexibility in achieving rents that are closer to market, which is especially beneficial during high inflationary periods. Another benefit is the utility costs are considerably lower in comparison to the City of Los Angeles. New ownership can continue to improve the asset by renovating units as they become vacant, implementing RUBS to recapture utility costs, replacing the leased laundry machines with landlord owned, and continue to give the below market tenants annual rent increases.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 24359147
Price: $5,300,000
Beds: 19
Baths: 26
Built in 1964
14,160 sqft
0.36 acres
Lot size: 0.3643
County: Los Angeles
Zoning: HPR3YY
Parking description: Detached Carport
Heating/cooling: Wall/Window Unit(s)
Heating description: Wall Furnace
MLS area: T1 - Vernon, Maywood, Hunt Pk & Bell, N of Florenc

Last Updated: 10/16/2024

 Days On Market (DOM): 449

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This listing belongs to the T1 - Vernon, Maywood, Hunt Pk and Bell, N of Florenc MLS area

Lat/Long: 33.983124, -118.216100.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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