116-120 S Avenue 64
Los Angeles, CA 90042
Newly Renovated Office & Units Highland Park! · Office Property For Sale

CSO 2.5% - INCREDIBLE $100,000 PRICE REDUCTION! GREAT INVESTMENT OPPORTUNITY FOR A MIXED USE OWNER OCCUPY WITH UPSIDE IN this exquisite mixed use trophy property has been meticulously restored & redesigned to perfection by acclaimed interior designer Joshua Cain. Located in the Highland Park HPOZ, home to a number of LA’s hippest retail tenants, Highland Park. This property is definitely one the best investments in Los Angeles real estate! There are two lots that are tied together for over 12,000 square feet of space with plenty of room to construct four 4 story townhouses. Pease see renderings in the document section. The existing building was built at the turn of the century and has been expertly restored into a luxury mixed-use complex. There are currently 5 total units with the ground floor front unit being a light & bright commercial space well suited for retail or office space. Ideal for owner/occupant use by an attorney, artist, retail shop, architect, or a variety of other businesses. Currently it is being used as a Medical Spa with 4 treatment rooms. Please see the floor plan attached. Current tenant can continue to lease or it can be delivered vacant. Treatment room walls can be taken down to return the space to a more open floor plan. There are 3 luxury rental units currently commanding very high rents due to perfect space plans and exquisite interior finishes; these units include washer/dryers, dishwashers, new doors/windows, and are available furnished. There is one rent-controlled tenant in the unrestored 5th unit. Abundant parking with 12 ground spaces and 4 garage spaces behind a secure iron fence and motorized gate. The building has security cameras and the office space has a state-of-the-art alarm system. With a CAP rate of 7.13%, this is a deal not to be missed! Preliminary conceptual plans for the second, matching building available upon request. Buyer to investigate and verify all information including but not limited to current zoning and property use restrictions. Unit 1 is an Office that's been restored & redeveloped. Unit #3 is occupied by a rent control tenant. Units 2, 4, & 5 are restored & redesigned high income producing Airbnb/Vrbo. The income producing units are all fully furnished & negotiable for purchase with the sale of the building. All gross rent figures & expenses are based on performance history.This property is in the Highland Park HPOZ. Buyer to verify all MLS information, including but not limited to lot/tract codes, permits, bed/ba counts, schools & all square footage, current zoning and property use restrictions. All info. deemed reliable but not guaranteed. Projected rent per garage $100.00 plus. Showing Remarks : No lockbox. Do not disturb occupants. Call or text listing agent to request showing. Rent controlled unit is available to show only during inspection period.