1724 Menlo AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,700 sqft
Price per Sqft $388
MLS Listing ID 25529927
Bedrooms 15
HOA Y/N No
Year Built 2023
Lot Size 6,120 Sqft
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
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher,Refrigerator,Dryer,Washer
Exterior
Parking Features Garage,Tandem
Community Features Gated
Total Parking Spaces 2
Building
Story 1
Entry Level Three Or More
Sewer Sewer Tap Paid
Level or Stories Three Or More
New Construction Yes
Others
Senior Community No
Tax ID 5056021016
Security Features Gated Community
Special Listing Condition Standard