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$ 2,900,000
$ 3,100,000 6.5%
Est. payment /mo
Sold on 05/02/2025
245 E Avenue 38 Los Angeles, CA 90031
UPDATED:
Key Details
Sold Price $2,900,000
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
MLS Listing ID P1-20955
Sold Date 05/02/25
HOA Y/N No
Year Built 1971
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
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup, In Kitchen
Exterior
Parking Features Gated, On Site
Fence Wrought Iron
Pool None
Community Features Sidewalks
View Y/N No
View None
Total Parking Spaces 30
Private Pool No
Building
Lot Description Sprinklers None
New Construction No
Others
Senior Community No
Tax ID 5451003028
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
Listed by Katherine Vargas Katherine Vargas (626) 487-7922
Bought with Katherine Vargas Katherine Vargas
Bought with Katherine Vargas Katherine Vargas