4
See all 4 photos
$3,100,000
Est. payment /mo
0.51 Acres Lot
Active
245 E Avenue 38 Los Angeles, CA 90031
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UPDATED:
02/27/2025 12:35 AM
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRP1-20955
Originating Board California Regional MLS
Year Built 1971
Lot Size 0.507 Acres
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
Area 618 - Eagle Rock
Rooms
Kitchen None
Interior
Cooling Window / Wall Unit
Laundry Gas Hookup, In Kitchen, 30
Exterior
Parking Features Common Parking Area, Gate / Door Opener
Garage Spaces 30.0
Pool 31, None
View None
Others
Tax ID 5451003028
Special Listing Condition Not Applicable
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Listed by Katherine Vargas • Katherine Vargas