5952 & 5960 Fishburn Ave, Huntington Park, CA 90255

18 Units on Two Adjacent Parcels, 23K SF Lot

Sold: $2,807,500

Property Highlights

Portfolio of two adjacent 8-unit and 10-unit multifamily properties in Huntington Park
Generated multiple offers within a week of listing the property
18 units total across a combined 8,008 SqFt, sitting on a huge 23,430 square foot lot
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 Deal Story

The Glaser Group is proud to announce the successful closing of 5952 & 5960 Fishburn Ave, a portfolio of two adjacent multifamily properties totaling 18 units in the heart of Huntington Park, CA.

We represented a long-term ‘mom & pop’ owner in the sale of this property, with the buildings being under the same ownership for nearly 23 years. Our marketing process generated significant interest from investors seeking yield and value-add potential in the Southeast LA submarket. Within a week of listing the property for sale we generated multiple offers and quickly put the property under contract just under asking price. Our buyer removed contingencies within 10 days of opening escrow, and we worked towards a smooth closing after a typical 60-day period. Financing was provided by Cathay Bank.

Situated on an expansive 23,430 square foot lot, these classic 1940s courtyard-style assets consist of an 8-unit and a 10-unit building, offering a strong mix of (6) 1-bed / 1-bath, (1) 2-bed / 1-bath, and (10) single units. With 16 garages and a total of 35 parking spaces, these properties presented both immediate and long-term value for the buyer. Sold for an attractive $155K per unit with a 6.61% going-in Cap Rate and 9.22 GRM, this portfolio offered significant rental upside and strong potential for attached ADUs through existing garage conversions.

The Glaser Group navigated a competitive landscape and closed this two-property portfolio for $2,807,500, achieving a successful outcome for both buyer and seller. Our Seller plans to liquidate this asset and will not be executing a 1031 exchange on the sale.

If you're interested in exploring a similar sale or purchase, please shoot us an email or call us at 310-230-5157. We'd be happy to help.