Mohr Real Estate Group

Mohr Real Estate Group

2966 Clarendon Avenue Huntington Park CA 90255 MLS #24359147

2966 Clarendon Avenue
Huntington Park, CA, 90255
$5,300,000
Beds
0 Baths
SqFt
0.36 Acres
Add
Add
$5,300,000
2966 Clarendon Avenue
Huntington Park, CA, 90255
MLS #24359147 img 0MLS #24359147 img 1MLS #24359147 img 2MLS #24359147 img 3MLS #24359147 img 4MLS #24359147 img 5MLS #24359147 img 6MLS #24359147 img 7

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.

Property Details

Price:
$5,300,000
MLS #:
24359147
Status:
Active
Baths:
0
Address:
2966 Clarendon Avenue
Type:
Residential Income
Neighborhood:
t1vernonmaywoodhuntpkbellnofflorenc
City:
Huntington Park
Listed Date:
Feb 16, 2024
State:
CA
ZIP:
90255
Lot Size:
15,869 sqft / 0.36 acres (approx)
Year Built:
1964

Schools

Interior

Cooling
Wall/ Window Unit(s)
Heating
Wall Furnace

Exterior

Parking Features
Detached Carport
Parking Spots
19.00
Stories Total
2

Financial

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2966 Clarendon Avenue
Huntington Park, CA
The Mohr Real Estate Group

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