2649 Marengo Street
Los Angeles, CA 90033
0.68 acres | #PW24056719
Description
Priced well-below replacement cost at just $182/SF, 2649 Marengo Street is a 24-unit apartment property for sale in Los Angeles’ Boyle Heights neighborhood. The property’s desirable unit mix, spacious floor plans, huge upside potential, and great location proximate to Downtown Los Angeles amenities make this an excellent value-add opportunity. Additionally, there may be potential to develop six ADU's (buyer to verify).
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.
Property Details
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$6,350,000
- MLS #PW24056719
- MLS #PW24056719
- Property SubtypeMixedUse
- Cost5295000
- Acres0.6841
- Utility SourcePublic
- Year Built1989
- Stories3
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Steven Bogoyevac (#PBOYOSTE)
Listing Office: Steven M. Bogoyevac, Broker (#PB13351)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
