1329 2Nd Avenue, Los Angeles, CA 90019
-
Listed Price :
$1,685,000
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Beds :
8
-
Baths :
6
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Property Size :
5,824 sqft
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Year Built :
1906
Property Description
Daniel Hirth and Alex Reyhan of The Hirth Group are excited to present the exclusive opportunity to acquire 1329 2nd Avenue, a rare six-unit multifamily property in the vibrant and rapidly evolving Arlington Heights submarket of Los Angeles. This investment gem offers not only immediate cash flow but also substantial upside through renovation and re-tenanting. Situated on a 7,500 square-foot lot, this well-maintained asset features two separate buildings that span a total of approx. 5,824 square feet. The front building is a quadruplex with four distinct units, while the rear structure is a duplex with two units. The current unit mix includes two 2-bedroom, 1-bath units and four 1-bedroom, 1-bath units, two of which have been upgraded to 2-bedroom, 1-bath layouts, providing versatility and potential for higher rents. With six private parking garages, the property offers a competitive edge in an area where parking is a coveted amenity. 1329 2nd Avenue is a compelling investment for those seeking both stability and a value-add component. Currently delivering a strong return of 5.85% at a 12.62 GRM, with tremendous upside potential upon re-tenanting after renovation, this multifamily asset has the ability to perform at a projected 8.33% CAP rate and an attractive 9.24 GRM.As an added advantage, the unit conversions (from 1-bedroom to 2-bedroom layouts) were completed without permits, offering savvy investors the flexibility to formalize these changes with permits, reconfigure to original specifications, or even explore further development options, subject to local zoning regulations.
Interior Features
| Bedroom Information |
| Bedrooms |
8 |
| Bathroom Information |
| Bathrooms |
6 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
1329 2Nd Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90019 |
| County |
Los Angeles |
| Listing Agent |
Daniel Hirth DRE #01515796 |
| Courtesy Of |
KW Advisors |
| List Price |
$1,685,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
5,824 |
| Lot Size |
7,502 |
| Year Built |
1906 |
Listing information courtesy of: Daniel Hirth, KW Advisors. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 25th, 2024 at 11:50 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
