1596 W 24th St - Apartments FOR SALE


Los Angeles, CA 90007- West Adams
$2,200,000 USD
213-943-1897
1596 W 24th St, Los Angeles, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/10
null | 6.03% Cap Rate

1596 W 24th St
Los Angeles, CA 90007
West Adams


HIGHLIGHTS

  • The property has approximately 28% in rental upside remaining, offering a clear path to income growth through unit turnover and renovation.
  • A balanced mix of nine one-bedrooms and four two-bedrooms, served by on-site laundry and parking.
  • The state-mandated SB 721 balcony inspection has been completed and cleared.
  • Approximately one mile from USC. The university anchors the local economy, driving demand from faculty, staff, and area workforce — not just students.
  • A Walk Score of 84, with the Metro E Line and Rapid bus service nearby and quick freeway access, placing Downtown and the Westside within reach.
  • Minutes south, Exposition Park's Coliseum and BMO Stadium will host 2028 Summer Games events, drawing citywide transit and infrastructure investment.

OVERVIEW

The SR Group of Marcus & Millichap, as exclusive listing agent, is pleased to present 1596 West 24th Street, a 13-unit apartment community in the Adams-Normandie neighborhood of Los Angeles, near the University of Southern California. Built in 1964, the property comprises 13 units in a two-story building on an 11,626-square-foot lot. The unit mix is well balanced across nine one-bedrooms and four two-bedrooms. Residents enjoy on-site laundry and parking. The property has approximately 28% remaining rental upside, providing a clear path for a new owner to grow income through unit turnover and renovation. The soft-story seismic retrofit is complete, with a City-approved cost-recovery surcharge implemented. In addition, the SB 721 balcony inspection has been completed and cleared. Adams-Normandie ranks among the city’s more historic, centrally located neighborhoods, defined by its tree-lined streets. The property earns a Walk Score of 84, with the Metro E (Expo) Line and Rapid bus service nearby and freeway access in every direction, placing Koreatown, Downtown, and the Westside within a short drive. Exposition Park—home to the Los Angeles Memorial Coliseum and BMO Stadium—lies minutes south and will host events during the 2028 Summer Games. Ahead of the Games, Los Angeles is advancing a wave of transit and infrastructure investment across the city, public spending that stands to support property values across the surrounding submarket. For an investor taking a longer view of the central Los Angeles market, 1596 West 24th Street offers a well-maintained asset with remaining rental upside in a USC-anchored submarket. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$217 USD /SF

# OF UNITS

13

PRICE/UNIT

$169,231

CAP RATE

6.03%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Le Gar Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,626 SF

ZONING

R2-1-HPOZ

APN/PARCEL ID

5054-017-025

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.