Skip To Content

    2966 Clarendon Avenue

    Huntington Park, CA 90255
    • $3,499,000
    • STATUS: Pending
    • ON SITE: 40 days
    • ID#: ND21068416
    Pending
    UPDATED: 50 min ago
    $3,499,000
    • 0
      BEDS
    • 0.36
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,891
      SQFT
    • $321
      $/SQFT

    School Ratings & Info

    Description

    Las Lomas Apartments is exceptionally well located in the heart of Los Angeles between the 110, 710, 5, and 10 freeways, only 15 minutes from downtown LA. Due to the property's close proximity to major employment hubs of Southern California, the apartments have enjoyed historically low tenant turnover and have had no spells of vacancy even during COVID shut downs. In addition, the property commands the highest rents in its submarket. Las Lomas is close to grocery stores, the Civic Center, schools, major freeways, and high quality jobs. This sort of convenience is usually associated with the hustle and bustle of the city, however to the contrary, Clarendon Ave. is a quiet street in a residential neighborhood consisting of primarily single family homes. The management has built a community of quiet, respectful and responsible residents. The current management has invested over $250,000 into improvements, and fully renovated most of the units and areas of the property. An additional $80,000 was spent converting a large portion of the property's plumbing from galvanized piping to copper and abs. Furthermore, management has spent $7,000 rewiring the electrical. On-Site Manager of 25 years! On-Site Maintenance Person who has done all the construction and maintenance for the last 6 years! This is a perfect opportunity to acquire a well-maintained asset that can continue to develop its upside and place in its market as a premier housing accommodation for years to come!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-13T14:39:32.25. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/115734505
    Print Image

    2966 Clarendon Avenue Huntington Park, CA 90255

    • Price: $3,499,000
    • Status: Pending
    • Updated: 50 min ago
    • ID#: ND21068416
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.36
    Acres
    10,891
    SQFT
    $321
    $/SQFT
    1964
    Built
    Neighborhood:
    T1 - Vernon, Maywood, Hunt Pk & Bell, N of Florenc
    County:
    Los Angeles
    Area:
    T1 - Vernon, Maywood, Hunt Pk & Bell, N of Florenc
    Property Description
    Las Lomas Apartments is exceptionally well located in the heart of Los Angeles between the 110, 710, 5, and 10 freeways, only 15 minutes from downtown LA. Due to the property's close proximity to major employment hubs of Southern California, the apartments have enjoyed historically low tenant turnover and have had no spells of vacancy even during COVID shut downs. In addition, the property commands the highest rents in its submarket. Las Lomas is close to grocery stores, the Civic Center, schools, major freeways, and high quality jobs. This sort of convenience is usually associated with the hustle and bustle of the city, however to the contrary, Clarendon Ave. is a quiet street in a residential neighborhood consisting of primarily single family homes. The management has built a community of quiet, respectful and responsible residents. The current management has invested over $250,000 into improvements, and fully renovated most of the units and areas of the property. An additional $80,000 was spent converting a large portion of the property's plumbing from galvanized piping to copper and abs. Furthermore, management has spent $7,000 rewiring the electrical. On-Site Manager of 25 years! On-Site Maintenance Person who has done all the construction and maintenance for the last 6 years! This is a perfect opportunity to acquire a well-maintained asset that can continue to develop its upside and place in its market as a premier housing accommodation for years to come!
    Exterior Features

    Carport Spaces 18 Carport YN Yes Construction Materials DrywallFrameConcreteStuccoWood Siding Direction Faces North Entry Level 1 Entry Location 1 Fencing BlockChain LinkSecurityStucco WallWoodWrought Iron Foundation Details RaisedSlab Lot Features 16-20 Units/AcreBack YardFront YardSprinklers In RearSprinklers In FrontLawnLandscapedLevelNear Public TransitRectangular LotSprinklers ManualSprinkler SystemStreet LevelValue In LandYard Number Of Separate Electric Meters 7 Other Structures Shed(S) Parking Features Attached CarportAssignedConcreteDoor-MultiDetached CarportDoor-SingleGarage Faces FrontGarageGatedOn SiteGarage Faces RearOn Street Parking Total 23 Pool Features CommunityFencedFilteredGuniteIn GroundTile Pool Private YN No Property Attached YN Yes Road Surface Type Alley PavedPaved Roof Composition

    Interior Features

    Accessibility Features Safe Emergency Egress From HomeParkingAccessible Doors Appliances Built-In RangeGas CooktopDisposalGas OvenSelf Cleaning OvenVented Exhaust FanWater Heater Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Flooring CarpetTileVinylWood Heating Natural GasWall Furnace Heating YN Yes

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 5.09 Common Interest Community Apartment Community Features SuburbanGatedPool Contingency Buyer To Cooperate With Seller's 1031 Exchange At No Expense Or Delay To Buyer. ***Sale Is Not Contingent Upon Seller Finding A Suitable Upleg*** ***Analysis (Income & Expenses) Are Based On Proforma Rents And Historical Expenses*** Current Financing Conventional Electric Electricity - On Property220 Volts in Laundry Electric Expense 5850 Fuel Expense 3600 Garage YN Yes Green Energy Efficient AppliancesLightingWater Heater Gross Income 1200 Gross Scheduled Income 316380 Insurance Expense 3995 Land Lease YN No Laundry Features Common AreaWasher HookupGas Dryer Hookup Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 ExchangeSubmit Maintenance Expense 18000 Net Operating Income 178271 New Construction YN No New Taxes Expense 52347 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 18 Operating Expense 127737 Other Expense 22200 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Gated CommunityResident ManagerSmoke Detector(S)Security Lights Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardNo Smoking Tax Year 2021 Tenant Pays ElectricityGas Total Actual Rent 290676 Trash Expense 3600 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 9491 Vacancy Allowance Rate 3 Water Sewer Expense 6300 Water Source Public

    Listing provided courtesy of Kevin Mitchell of Tlc Real Estate Group and Brian Jackson of Tlc Real Estate Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-13T14:39:32.25. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365337962-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365337962-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365337962-1.jpg
    Logo
    Team Tami | Palm Realty Boutique
    7101 Playa Vista Dr.
    Playa Vista CA, 90094