WINNER! L.A.’s Hottest Real Estate Neighborhood for 2017 – CYPRESS PARK! Property Values Expected to Grow by 8.0% This Year!
KW Commercial is pleased to present for sale a highly unique multifamily investment asset in the Cypress Park community of Los Angeles. The Riverview Residences are in a fantastic location just blocks from the LA River and Figueroa, in a rapidly transitioning mixed use (residential and commercial) pocket that now houses art galleries as well as 4.5-5 star Yelp reviewed restaurants and taco trucks!
The Highland Park adjacent Riverview Residences affords tenants a hillside retreat as they look out onto the Elysian hillsides through iconic California palm trees. The property is comprised of two structures and is situated on an expansive lot of more than 13,000 SF. Built in 1955, the two buildings holds eight 1 Bed + 1 Bath apartments and an owned laundry room bringing in extra income. The upper structure has excellent views of Dodger Stadium fireworks, the Hollywood sign and Griffith Observatory. There is open parking for all tenants as well as a gated side yard facing Idell that can be converted into a garden, private patio, additional storage area, etc.
609 W Avenue 28 is conveniently located near Figueroa and San Fernando Rd, adjacent to the Los Angeles River. Cypress Park is considered part of popular NELA, also known as North East Los Angeles, just minutes from Downtown LA! Nearby neighborhoods include Lincoln Heights, Frogtown, Atwater Village, Mt. Washington, Highland Park, and Glassell Park. The subject property offers a Walkscore and a Bikescore of 78, which indicates the neighborhood’s transition and access to local amenities. Plus, The Riverview Residences are located extremely close to the Los Angeles River, which is currently undergoing a billion dollar restoration and is attracting huge new developments to the area – making now a great time to buy! (See for Yourself on the LA River Elysian Valley Map).
Want to Learn More About LA River Restoration – Just Click HERE
Want to Know What Popular Publications Are Saying About the River Restoration – Just Click HERE or HERE
*All information provided to be deemed reliable but not guaranteed. Any buyer to complete all investigations into the property and/or matters that may or may not affect the property independently and to their own satisfaction.