2649 Marengo St Los Angeles, CA 90033-2088
Property profile & analytics
2649 Marengo St Los Angeles, CA 90033-2088
- Apartment buildings
- 29,096 SF
- 0.68 lot acres
Property ID
US09-8504955
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Beach Front Property Management - Los Angeles @ Marengo Apartments / Apartment Building
Property Details for 2649 Marengo St
- Year built
- 1988
- Construction
- WOOD
- Lot size
- 0.68 lot acres
- Property size
- 29,096 SF
- Zone code
- LARD1.5
- Property type
- Apartment buildings
- APN
- 5177-002-054
- APU
- 5177002054
Description
This 24-unit apartment building, constructed in 1989, presents a compelling value-add opportunity in Los Angeles' Boyle Heights neighborhood. The property encompasses 29,096 square feet across six three-story buildings, situated on a 29,798 square foot lot. The unit mix includes six one-bedroom/one-bathroom, ten two-bedroom/one-bathroom, six three-bedroom/two-bathroom, and two four-bedroom/two-bathroom units, offering spacious floor plans (approximately 940 sq ft for 1-bedrooms, 1179 sq ft for 2-bedrooms, 1390 sq ft for 3-bedrooms, and 1600 sq ft for 4-bedrooms). Amenities include on-site laundry facilities in each building, a playground, 29 surface parking spaces, and 22 tuck-under parking spaces. The property boasts a current NOI of $282,564 and a pro-forma NOI of $565,460, translating to a current cap rate of 5.34% and a pro-forma cap rate of 10.68%. The asking price is $5,295,000, or $181.98 per square foot and $220,625 per unit. Its location offers convenient freeway access to Downtown Los Angeles' amenities and major employers, including the nearby USC Medical Center. The seller may deliver select units vacant, and there's potential for the development of six additional dwelling units (buyer to verify). This property benefits from a desirable unit mix, with 75% of units being two-, three-, or four-bedroom, making it an attractive rental option in a rapidly redeveloping area.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.199
- Latitude
- 34.0547
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$31,799
$738,852
$1,570,065
$2,308,917
-
$0.00
$0.00
$0.00
