1724 Menlo Avenue new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,700 sqft
Price per Sqft $388
MLS Listing ID CL25529927
Year Built 2023
Lot Size 6,122 Sqft
Property Sub-Type Other
Property Description
Introducing an exceptional investment opportunity in the heart of Los Angeles: five brand-new units, constructed in 2023, are now available for purchase directly from the developer. This strategically positioned property offers a reliable income stream, boasting an impressive 6.24% cap rate with the potential for additional ADU (Accessory Dwelling Unit) conversions. Each unit features modern, stylish finishes that ensure a luxurious living experience. All units are individually metered for gas, water, and electricity, providing a low-maintenance and efficient environment.Covering a thoughtfully designed 7,700 square feet, this remarkable offering includes two four-bedroom units, two three-bedroom units, and one-bedroom ADU, all nestled in the vibrant Pico-Union area. The floor plans are meticulously crafted, with en-suite bathrooms in every bedroom and ample parking for renters. This is an excellent opportunity for 1031 exchange buyers or any investor seeking steady and passive cash flow in a thriving market.Conveniently located just west of Downtown Los Angeles, north of USC Village, and east of Koreatown, this property places you right in the city's vibrant core, making it an ideal investment choice.
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating Other
Cooling Central Air
Laundry Dryer,Washer
Exterior
Utilities Available Other Water/Sewer
Building
Water Other
New Construction No