245 E Avenue 38, Los Angeles CA, 90031

Active

245 E Avenue 38

Los Angeles CA, 90031

$3,100,000

$227.57 per sqft

Active

13,622 sqft

Residential

Built in 1971

Listed by Katherine Vargas with Katherine Vargas (626) 487-7922

245 E Avenue 38 is a well-maintained, 11-unit multifamily property in the evolving North East LA submarket. Built in 1971, the two-story complex spans 13,622 square feet on a 0.53-acre lot, offering a unique combination of stable income and future development potential. The property features a large parking lot with 30 spaces, an increasingly rare asset in Los Angeles, which could be leveraged for additional units or amenities. With its proximity to Highland Park, Cypress Park, and major transportation hubs, the property is ideally positioned to benefit from strong rental demand. All units are currently leased to long-term tenants, providing an investor with reliable cash flow. Additionally, the enclosed front and rear patios in each unit create a desirable living experience, supporting tenant retention and long-term value. This investment offers a combination of immediate income stability and future upside, making it a compelling opportunity in one of LA's most dynamic residential markets.

P1-20955

MLSⓇ ID

February 21, 2025

Listed

February 27, 2025

Updated

Interior Features

Laundry Description: Washer Hookup, Gas Dryer Hookup, In Kitchen
Fireplace: No
Fireplace Description: None
Cooling: Yes
Cooling Description: Wall/Window Unit(s)
Heating: Yes

Exterior/Building Features

Lot Size: 0.51 Acres
Lot Features: Sprinklers None

Other Property Details

Area Name: 618 - Eagle Rock
Days on Market: 5
Garage: No
Parking: Gated, On Site
Parking Total: 30
View: No
View Description: None
County: Los Angeles
Pool: No
Pool Features: None

Listing Contact: (626) 487-7922

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/27/2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 2/27/2025 at 10:38 AM UTC