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1072 Leonard Ave East Los Angeles, CA 90022

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For Sale
$1,180,000

Apartment buildings

Property size:
4,861 SF
Lot size:
7,007.00 Acres

Property Features for 1072 Leonard Ave

General Information

Standard status
Active
Zoning
LC R1
Size
4,861 SF
Lot size
7,007.00 Acres

Building Details

Year built
1930

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Listing Contact
Aaron Jacobson
Source: Crexi

Listing Agency: Lyon Stahl Investment Real Estate Listing Agent: Aaron Jacobson

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

1072 Leonard Ave presents an excellent opportunity to acquire a well-located six-unit multifamily property in the heart of East Los Angeles. The property features a desirable unit mix consisting of (1) Studio, (4) 1-bedroom/1-bath units, and (1) 2-bedroom/1-bath unit, currently collecting $10,196.73 in monthly rent. Situated on a large 7,007 square foot lot, the property comes with approved plans for (2) 1-Bed/1-Bath ADUs, allowing an investor to start construction immediately. After construction, the property projects a 8.18% Cap Rate (After factoring in Construction costs). Currently operating at a 6.47% cap rate and 9.64 GRM, the property provides stable in-place income with upside potential for an investor looking to grow rents over time. East Los Angeles is a quickly growing neighborhood in Los Angeles adjacent to Downtown Los Angeles. A vibrant and culturally diverse neighborhood known for its rich history, tight-knit community, and eclectic mix cuisines, East LA offers a dynamic blend of residential charm, thriving local businesses, and a vibrant arts scene. With a close proximity to the t rain line stop and waling distance to Hollenbeck Park, and restaurants, bars and nightlife.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
East Los Angeles
County
Los Angeles
State
California
Longitude
-118.157
Latitude
34.0246

FAQs

Where is this apartment building located?
The property is located at 1072 Leonard Ave East Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: - Approved plans for (2) 1-Bed/1-Bath ADUs allow for immediate construction and increased income potential.; - Projected 8.18% Cap Rate after ADU construction, factoring in construction costs.; - Desirable unit mix: (1) Studio, (4) 1-bedroom/1-bath units, and (1) 2-bedroom/1-bath unit.
More about this property
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