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$ 3,500,000
Est. payment /mo
New
2360 W Washington BLVD Los Angeles, CA 90018
16 Beds
17 Baths
11,260 SqFt
UPDATED:
02/22/2025 04:39 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,260 sqft
Price per Sqft $310
MLS Listing ID 25501903
Bedrooms 16
HOA Y/N No
Year Built 1929
Lot Size 7,509 Sqft
Property Description
This value-add opportunity consists of 17 residential units and 3 ground-floor retail spaces, offering a diverse income stream in an area with strong rental demand. The residential units provide a balanced mix of studios, one-bedrooms, and a bachelor unit, while the retail spaces benefit from high foot traffic and strong visibility on a major commercial corridor. Two separate parcels so no onsite management is needed. Positioned in Arlington Heights, a historic and evolving neighborhood, the property is surrounded by retail shops, restaurants, entertainment venues, and art galleries. Its strategic location, coupled with proximity to major transit routes and employment hubs, ensures consistent tenant demand and long-term rental stability. For investors, 2360 W Washington Blvd presents an immediate opportunity to enhance returns, with current rents operating 26% below market levels. By optimizing lease structures and implementing value-add strategies, investors can increase NOI from $234,391 to $325,558, achieving a potential cap rate of 9.30%. With a competitive price per square foot this property offers both strong cash flow and long-term appreciation potential in one of Los Angeles' most supply-constrained submarkets.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAC2
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5073028005
Special Listing Condition Standard
Listed by Taylor Avakian • Lyon Stahl Investment Real Estate, Inc.