x
Address
2649 MARENGO Street Los Angeles, CA
Price
$ 6,360,000
Property Attributes
  • MLS#19494264
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaBoyle Heights
  • Zip90033
  • Style
  • Price$ 6,360,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage29096
  • Lot Size0.68 Acres
Listing Provided Courtesy Of:
Roderick 'Rick' Raymundo with Marcus & Millichap.
Property Description

We are pleased to announce the sale of 2649 Marengo Street, a rare opportunity to purchase a mid-size multifamily property with expiring covenants that had previously been restricting rents. Constructed in 1988, the property is not subject to Los Angeles rent control and features an outstanding unit mix, with 75% of the units holding two, three, or four bedrooms. Available for only $218 per square foot, the property features spacious floorplans that may help the new investor to command much higher rents if the existing rent covenants expire.The sprawling lot features ample parking, with approximately 46 covered and open parking spaces atop the concrete driveway. A large playground and sandbox occupy one corner of the gated complex, while each of the three apartment groupings contains its own on-site laundry room, helping to provide additional cash flow to the owner.

Price History
7/30/2019 Listed $6,360,000

General Features

Assessments None
Directions The property is conveniently located less than a half-mile from the LAC + USC Medical Center and the Keck School of Medicine campus, a major employer for the surrounding area.
Listagentaor CLAW
Listing Agent Roderick 'Rick' Raymundo - BRE#01357019
Listing Agent State License 01357019
MLS Area BOYH - Boyle Heights
Price Per Square Foot 218.59
Source System CRMLS
Special Listing Conditions Standard
Total Units 24
Zoning LARD1.5

Interior Features

Air Conditioning Y/N Yes
Cooling See Remarks
Laundry Features See Remarks
Laundry Y/N Yes
Total Stories 3

Exterior Features

Building Area Total 29096.00
Lot Features Sprinklers None
Lot Size Acres 0.6841
Lot Size Area 29798.0000
Lot Size Source Assessor
Lot Size Square Feet 29798.00
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Covered
Parking Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90033

Price
AVG $1.94M
$6.36M
Visits
AVG 12
44
Year Built
AVG 1940
1988
Walkscore
AVG 82
74
Data Provided by Walkscore ® not using MLS data

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