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    1329 2Nd Ave Los Angeles, CA 90019

    Sponsored
    For Sale
    $1,685,000

    Prime Arlington Heights location, strong cash flow, value-add potential.

    Property size:
    5,824 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This six-unit multifamily property in Los Angeles's Arlington Heights offers a compelling investment opportunity. The property consists of two buildings: a fourplex and a duplex, totaling 5,824 square feet on a 7,500 square foot lot. Built in 1906, the two-story complex features six units – two 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units (one upgraded to a 2-bedroom layout). Each unit has individual gas and electric meters. Six private parking spaces are included, a significant advantage in this location. The property currently generates a NOI of $98,624, representing a 5.85% cap rate. Pro forma NOI is projected at $117,092, resulting in a 6.81% cap rate. The asking price is $1,685,000, or $280,833 per unit and $289.32 per square foot. The property is zoned LARD1.5 and benefits from its location near major freeways (10 and 110), public transportation (Wilshire/Western Metro Station), and key areas like Koreatown, Downtown Los Angeles, and Culver City. Arlington Heights' ongoing revitalization and increasing demand for rental units make this a strong value-add investment with significant upside potential through renovations and re-tenanting. The existing unit conversions offer flexibility for future development, subject to local zoning regulations.

    Property Features for 1329 2Nd Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,824 SF

    Building Details

    Year Built
    1906
    Buildings
    2
    Stories
    2
    Units
    6

    HighLights

    • Six‑unit multifamily property with stable current income.
    • Two‑building complex: fourplex and duplex totaling 5,824 square feet on a 7,500 square foot lot.
    • Six on‑site parking spaces.
    • Current 5.85% cap rate; pro forma 6.81% cap rate.
    • Excellent location near the Wilshire/Western Metro Station, 10 & 110 freeways, and major employment centers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.31894436804
    Latitude
    34.046300269907

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    FAQs

    What type of property is this?
    Multifamily property - Prime Arlington Heights location, strong cash flow, value-add potential.
    Where is this multifamily property located?
    The property is located at 1329 2Nd Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,685,000.
    What are key features of this property?
    This property features: Six-unit multifamily property with stable current income.; Two-building complex: fourplex and duplex totaling 5,824 square feet on a 7,500 square foot lot.; Six on-site parking spaces.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1329 2Nd Ave Los Angeles, CA 90019
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