1329 2nd Avenue
Los Angeles, CA 90019
- – beds
- – baths
- – sqft
- 7,502 sqft lot
- 1906 build
- – on site
Daniel Hirth and Alex Reyhan of The Hirth Group are excited to present the exclusive opportunity to acquire 1329 2nd Avenue, a rare six-unit multifamily property in the vibrant and rapidly evolving Arlington Heights submarket of Los Angeles. This investment gem offers not only immediate cash flow but also substantial upside through renovation and re-tenanting. Situated on a 7,500 square-foot lot, this well-maintained asset features two separate buildings that span a total of approx. 5,824 square feet. The front building is a quadruplex with four distinct units, while the rear structure is a duplex with two units. The current unit mix includes two 2-bedroom, 1-bath units and four 1-bedroom, 1-bath units, two of which have been upgraded to 2-bedroom, 1-bath layouts, providing versatility and potential for higher rents. With six private parking garages, the property offers a competitive edge in an area where parking is a coveted amenity. 1329 2nd Avenue is a compelling investment for those seeking both stability and a value-add component. Currently delivering a strong return of 6.02% at a 12.32 GRM, with tremendous upside potential upon re-tenanting after renovation, this multifamily asset has the ability to perform at a projected 7.15% CAP rate and an attractive 10.71 GRM.As an added advantage, the unit conversions (from 1-bedroom to 2-bedroom layouts) were completed without permits, offering savvy investors the flexibility to formalize these changes with permits, reconfigure to original specifications, or even explore further development options, subject to local zoning regulations.
Last checked:
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Last updated Dec 11, 2024
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MLS# 24466229 —
The Building
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Year Built:1906
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New Construction:No
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Building Area Total:5824.00
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Total Number Of Units:6
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# of Buildings:2
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Stories Total:2
Interior
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Levels:Two
Location
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Directions:From I-10 exit at Arlington Avenue and head North, turn left on W 15th and right onto 2nd Avenue
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Latitude:34.04628500
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Longitude:-118.31925700
The Property
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Property Type:Residential Income
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Zoning:LARD1.5
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Lot Size Area:7502.0000
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Lot Size Dimensions:50x150
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Lot Size Acres:0.1722
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Lot Size SqFt:7502.00
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Security Features:Window Bars
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5072036019
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:No
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Cooling:None
Appliances
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Appliances:Disposal, Refrigerator
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Private
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Parking Spaces:6.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/11/24
Dec 11, 2024
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Price Changed | CRMLS_CA | $1,645,000 | -2.4% |
|
11/21/24
Nov 21, 2024
|
Listed / Active | CRMLS_CA | $1,685,000 | 12.3% (6.3% / YR) |
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12/7/22
Dec 7, 2022
|
CRMLS_CA | $1,500,000 | -1.0% |
