5952 & 5960 Fishburn Ave, Huntington Park, CA 90255

18 Units on Two Adjacent Parcels | 6.29% Cap Rate & 9.61 GRM | 23K SqFt Lot w/16 garages

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$2,925,000

Property Highlights

Portfolio of two adjacent 8-unit and 10-unit multifamily properties in Huntington Park
18 units total across a combined 8,008 SqFt, sitting on a huge 23,430 square foot lot
Offered at an attractive $162K/unit, 6.29% Cap Rate and 9.61 GRM
Strong mix of (6) 1+1, (1) 2+1 and (10) singles
Built in 1948 and 1938 respectively
Significant upside on rents along with strong potential to add attached ADUs across the many garages
Courtyard style properties with 16 garages total, plus 1 uncovered space and 18 uncovered spaces
Community laundry room for additional income potential
Under the same ownership for almost 23 years

The Opportunity

The Glaser Group is pleased to present 5952 & 5960 Fishburn Ave, a portfolio of two adjacent 8-unit and 10-unit multifamily properties in Huntington Park, CA. The property is 18 units total across a combined 8,008 SqFt, sitting on a huge 23,430 square foot lot. Built in 1948 and 1938 respectively, these apartment assets offer significant upside on rents along with strong potential to add attached ADUs across the many garages. Under the same ownership for almost 23 years, the properties have been well maintained, and select unit have been upgraded with new laminate flooring, upgraded showers and new countertops. These two properties must be sold together.

The 8-unit property, 5952 Fishburn Ave, is comprised of (7) 1-bed / 1-bath units and (1) 2-bed / 1-bath unit, spread across three separate structures. This classic 1940s courtyard style property was recently upgraded with a newly landscaped front yard with low maintenance desertscape and stones. It also features a community laundry room, and there are (6) one-car garages in the back structure. There’s also (1) additional covered parking space & (8) additional uncovered spaces, with 15 parking spaces in total. The 2-bedroom unit comes with central heat and A/C. 5952 Fishburn is separately metered for gas and electricity.

The 10-unit property, 5960 Fishburn Ave, is comprised of (10) Single units across two structures, and it offers a unique layout with no shared walls between the units. Each Single unit also comes with an attached one-car garage. Tenants can also park parallel in front of their garages, with (20) parking spaces in total. While 5960 Fishburn Ave is master metered for all utilities, (6) of the (10) tenants are currently paying monthly utility reimbursements for electricity usage.