2649 Marengo Street

Los Angeles, CA 90033

  • 52 Bed(s)
  • 0 Bath(s)
  • 29,096 Sqft
  • 29798
    Sqft(Lot)
$5,300,000

Description

Constructed in 1989, the property is not subject to los angeles rent control and features an outstanding unit mix, with 75% of the units holding two, three, or four bedrooms. available for only $182 per square foot, the property features spacious floorplans that average approximately 1,200 square feet per apartment. the sprawling lot features ample parking, with approximately 46 covered and open parking spaces atop the concrete driveway. each of the three apartment groupings contains its own on-site laundry room, helping to provide additional cash flow to the owner. many of the unit interiors have been updated with wood laminate flooring, and select units feature recessed lighting, new kitchen countertops, walk-in closets, and upgraded bathrooms. engineering plans have been drafted for six potential adus, which would be constructed within the existing covered parking areas (buyer to verify). implementing this adu plan could add significant value to the asset, while simultaneously boosting annual income as the new adus could potentially generate more than$100,000 in annual revenue for the new investor. the property is conveniently located less than a half-mile from the lac + usc medical center and the keck school of medicine campus, a major employer for the surrounding area. tenants also enjoy convenient access to the 5, 10, 60, 101, and 710 freeways, which are each within approximately two miles of the property. downtown los angeles, dodger stadium, crypto.com arena, and l.a. live are all within a 10-minute drive from the building, while tenants can easily travel to the trendy arts district for its new dining and entertainment options.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    48412530

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Property Details

  • Bedroom Information

    • Total Bedrooms : 52

    Bathroom Information

    • Total Baths: 32
    • Full Baths: 0
    • Half Baths: 0

  • Building Information

    • Year Built: 1989
    • Building Area Total: 29,096

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.6841
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 29798

  • Listing Price Information

    • Original List Price: 5,300,000
    • Listing Contract Date: 2025-01-21

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 5177002054

  • Garage and Parking

    • Garage Description: Covered

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: BOYH - Boyle Heights
    • Directions: We are pleased to announce the opportunity to purchase 2649 Marengo Street, a rare mid-size multifamily property with significant rent upside that can be captured more rapidly via the higher annual rent increases allowed by AB 1482.
    • Zoning: LARD1.5
    • Source Property Type: Residential Income
    • Area: BOYH - Boyle Heights

    Building and Construction

    • Property Age: 36
    • Year Built Source: Assessor
    • Total Square Feet Living: 29096
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 01/24/2025 @ 20:02

  • MLS: 25487275
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 52 bedrooms which is for sale, it has 29,096 sqft, 29,798 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Los Angeles , in zip code 90033, this Los Angeles County Home are nearby neighborhoods.