2649 Marengo Street , Los Angeles, CA 90033
Los Angeles, CA 90033
Description
Priced well-below replacement cost at just $182/SF, 2649 Marengo Street is a 24-unit apartment property for sale in Los Angeles’ Boyle Heights neighborhood. The property’s desirable unit mix, spacious floor plans, huge upside potential, and great location proximate to Downtown Los Angeles amenities make this an excellent value-add opportunity. Additionally, there may be potential to develop six ADU's (buyer to verify). 2649 Marengo Street is a three-story, 29,096-square foot 1989 construction with a strong mix of six one-bed/one-bath, 10 two-bed/one-bath, six three-bed/two-bath, and two four-bed/two-bath units. The units boast extra large floor plans, making this property an attractive rental option. Each building has its own laundry room, and the property also offers a playground, 29 surface parking spots, and 22 tuck-under parking spots. Located in Boyle Heights, the property has easy access to Downtown Los Angeles’ entertainment and major employers, such as the nearby USC Medical Center. Boyle Heights’ proximity to Downtown has also made it a target of redevelopment in recent years, with nearby developments including new student housing, expansion at the medical center, a new hotel, and more.
Details
| MLS# | PW24056719 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1989 |
| Days On Site | 200 |
| Listing Provided By | Steven M. Bogoyevac, Broker 562-436-5800 | Steven Bogoyevac |
Features
| SQ Feet | 29,096 |
|---|---|
| Story(s) | 3 |
| Units | 24 |
| Building(s) | 6 |
| Zoning | LARD1.5 |
| Acreage | 0.68 |
Market Activity 90033
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90033 |
| Area | BOYH Boyle Heights |
| Listing VS Median (in 90033) | |
Price: $5,295,000 low | high Med: $899,000 SqFt: 29,096 low | high Med: 2,436 $ / SqFt: $182 low | high Med: $369 On Site: 200 low | high Med: 53.000000 | |
