2649 Marengo St - Apartments FOR SALE
Los Angeles, CA 90033 |
2649 Marengo St
Los Angeles, CA 90033
HIGHLIGHTS
- 1989 Construction, 24-unit apartment complex with with massive upside potential in Los Angeles’ redeveloping Boyle Heights neighborhood
- This property is not subject to L.A. city rent control and falls under AB1482
- Priced well-below replacement cost at just $182/SF
- Potential to develop six ADU's (buyer to verify)
- Offered at a 5.38% current cap rate with upside to a market cap well over 12%
- Desirable mix of 75 percent two-, three- and four-bedroom units
FOR SALE DETAILS
PRICE
-
# OF UNITS
-
CAP RATE
-
% LEASED
-
BUILDING DETAILS
PROPERTY NAME
Marengo Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
29096
STORIES
3
YEAR BUILT
1989
PARKING SPACES
46
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
5177-002-054
