$5,295,000
2649 Marengo ST Los Angeles, CA 90033
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$5,295,000
Est. payment /mo
0.68 Acres Lot
UPDATED:
09/30/2024 05:27 PM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW24056719
HOA Y/N No
Year Built 1989
Lot Size 0.684 Acres
Property 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.
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.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Zoning LARD1.5
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Urban
Total Parking Spaces 46
Private Pool No
Building
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5177002054
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker • steve.bogoyevac@marcusmillichap.com
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