*** $100,000 PRICE REDUCTION & 20% VACANT [(1)2-bdrm. unit and (1) 1-bdrm. unit] *** 1223 N. Avenue 56 is a 10-unit value-add property, on a 12,603 SF lot, located 1 block north or York Blvd, the artistic hub of Highland Park. Notable tenants of this lively hub include Kumquat Coffee, Block Party, The York, Joy, Collage Coffee & more. In addition, the property is located 1.5 miles from Occidental College, and could serve as a great off-campus student housing option. 1223 N. Ave. 56 presents a substantial value-add opportunity with approx. 65% rental upside. At projected market rents, the property will stabilize at a 10.25% CAP and 7.72 GRM. Built in 1950 & 1953, this property features (4) 2-bdrm. units and (6) 1-bdrm. units spread across (3) 2-story buildings. The 12,603 SF lot features 2 APNs. Property amenities include automatic gated entry and approx. 15 parkings spaces (5 tandem and 5 single). 1223 N. Ave. 56 can be purchased individually or in conjunction with a 16-unit property, located 1 mile away (144 S. Avenue 55). Please contact LA1 for more information.