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
- Stories3
Measurements
- Acres0.6841
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1989
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$6,350,000
Other
- MLS #PW24056719
Location
Legal
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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.
