CA > Huntington Park
Huntington Park, CA 90255,2966 Clarendon AVE
Huntington Park, CA 90255,2966 Clarendon AVE
Huntington Park, CA 90255,2966 Clarendon AVE
Huntington Park, CA 90255,2966 Clarendon AVE
Huntington Park, CA 90255,2966 Clarendon AVE
Huntington Park, CA 90255,2966 Clarendon AVE
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Nicole Raach

Nicole Raach

+1(661) 309-5806
$ 5,300,000
Est. payment | /mo

19 Beds

26 Baths

14,160 SqFt

Save
$ 5,300,000
Est. payment | /mo
Save

19 Beds

26 Baths

14,160 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 14,160 sqft

Price per Sqft $374

MLS Listing ID 24359147

Bedrooms 19

HOA Y/N No

Year Built 1964

Lot Size 0.364 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area T1 - Vernon, Maywood, Hunt Pk & Bell, N Of Florenc

Zoning HPR3YY

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Garage Detached Carport

Parking Type Detached Carport

Attached Garage No

Total Parking Spaces 19

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 6319004003

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Adam Zunder • Iconic Investments
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2966 Clarendon AVE