Homes for sale - 245 E Avenue 38, Los Angeles, CA 90031

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-20955

Bedrooms 13

HOA Y/N No

Lot Size 0.507 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

245 E Avenue 38 is a well-maintained, 11-unit multifamily property in the evolving North East LA submarket. Built in 1971, the two-story complex spans 13,622 square feet on a 0.53-acre lot, offering a unique combination of stable income and future development potential. The property features a large parking lot with 30 spaces, an increasingly rare asset in Los Angeles, which could be leveraged for additional units or amenities. With its proximity to Highland Park, Cypress Park, and major transportation hubs, the property is ideally positioned to benefit from strong rental demand. All units are currently leased to long-term tenants, providing an investor with reliable cash flow. Additionally, the enclosed front and rear patios in each unit create a desirable living experience, supporting tenant retention and long-term value. This investment offers a combination of immediate income stability and future upside, making it a compelling opportunity in one of LA's most dynamic residential markets.
245 E Avenue 38 is a well-maintained, 11-unit multifamily property in the evolving North East LA submarket. Built in 1971, the two-story complex spans 13,622 square feet on a 0.53-acre lot, offering a unique combination of stable income and future development potential. The property features a large parking lot with 30 spaces, an increasingly rare asset in Los Angeles, which could be leveraged for additional units or amenities. With its proximity to Highland Park, Cypress Park, and major transportation hubs, the property is ideally positioned to benefit from strong rental demand. All units are currently leased to long-term tenants, providing an investor with reliable cash flow. Additionally, the enclosed front and rear patios in each unit create a desirable living experience, supporting tenant retention and long-term value. This investment offers a combination of immediate income stability and future upside, making it a compelling opportunity in one of LA's most dynamic residential markets.

Location

State CA

County Los Angeles

Area Los Angeles (90031)

Zoning Assessor

Interior

Cooling Wall/Window

Exterior

Parking Features Unit1:Gated

Building

Lot Description Sidewalks

Others

Acceptable Financing Cash

Space Rent $2,045

Listing Terms Cash