Multifamily
2649 Marengo St
2649 Marengo St, Los Angeles, CA 90033
Listing Price: $5,295,000
Investment Overview
Marcus & Millichap is pleased to present to market 2649 Marengo Street, a 24-unit apartment property for sale in Los Angeles’ Boyle Heights neighborhood. The property’s desirable unit mix, spacious floor plans, huge upside and ADU potential, and great location proximate to Downtown Los Angeles amenities make this an excellent value-add opportunity.
2649 Marengo Street is a three-story, 29,096-square foot 1989 construction with a strong mix of six one-bed/one-bath, 10 two-bed/one-bath, six three-bed/two-bath, and two four-bed/two-bath units. The units boast extra large floor plans, making this property an attractive rental option. Each building has its own laundry room, and the property also offers a playground, 29 surface parking spots, and 22 tuck-under parking spots.
Located in Boyle Heights, the property has easy access to Downtown Los Angeles’ entertainment and major employers, such as the nearby USC Medical Center. Boyle Heights’ proximity to Downtown has also made it a target of redevelopment in recent years, with nearby developments including new student housing, expansion at the medical center, a new hotel, and more.
2649 Marengo St
Investment Highlights
- 1989 Construction, 24-unit apartment complex with with massive upside potential in Los Angeles' redeveloping Boyle Heights neighborhood
- Priced well-below replacement cost at just $182/SF
- Desirable mix of 75 percent two-, three- and four-bedroom units
- Spacious floor plans: 4-bedrooms approx. 1,600 SF, 3-bedrooms approx. 1,390 SF, 2-bedrooms approx. 1,179 SF, and 1 bedrooms approx. 940 SF
- Amenities include on-site laundry, covered and surface parking, and a playground
- Convenient freeway proximity offers tenants enviable access to Downtown Los Angeles' world-class amenities and major employers
- Potential to develop six ADU's (buyer to verify)
Listing Price: $5,295,000
Investment Highlights
- 1989 Construction, 24-unit apartment complex with with massive upside potential in Los Angeles' redeveloping Boyle Heights neighborhood
- Priced well-below replacement cost at just $182/SF
- Desirable mix of 75 percent two-, three- and four-bedroom units
- Spacious floor plans: 4-bedrooms approx. 1,600 SF, 3-bedrooms approx. 1,390 SF, 2-bedrooms approx. 1,179 SF, and 1 bedrooms approx. 940 SF
- Amenities include on-site laundry, covered and surface parking, and a playground
- Convenient freeway proximity offers tenants enviable access to Downtown Los Angeles' world-class amenities and major employers
- Potential to develop six ADU's (buyer to verify)
Investment Overview
Marcus & Millichap is pleased to present to market 2649 Marengo Street, a 24-unit apartment property for sale in Los Angeles’ Boyle Heights neighborhood. The property’s desirable unit mix, spacious floor plans, huge upside and ADU potential, and great location proximate to Downtown Los Angeles amenities make this an excellent value-add opportunity. 2649 Marengo Street is a three-story, 29,096-square foot 1989 construction with a strong mix of six one-bed/one-bath, 10 two-bed/one-bath, six three-bed/two-bath, and two four-bed/two-bath units. The units boast extra large floor plans, making this property an attractive rental option. Each building has its own laundry room, and the property also offers a playground, 29 surface parking spots, and 22 tuck-under parking spots. Located in Boyle Heights, the property has easy access to Downtown Los Angeles’ entertainment and major employers, such as the nearby USC Medical Center. Boyle Heights’ proximity to Downtown has also made it a target of redevelopment in recent years, with nearby developments including new student housing, expansion at the medical center, a new hotel, and more.
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