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Listed by Katherine Vargas • Katherine Vargas
$ 3,100,000
Est. payment | /mo
13,622 SqFt
$ 3,100,000
Est. payment | /mo
13,622 SqFt
Key Details
Property Type Multi-Family
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 13,622 sqft
Price per Sqft $227
MLS Listing ID CRP1-20955
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1971
Lot Size 0.507 Acres
Property Sub-Type OTHER
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.
Location
State CA
County Los Angeles
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Gas Dryer Hookup, Other, In Kitchen
Exterior
View None
Building
Lot Description Other
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227