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Listed by steve.bogoyevac@marcusmillichap.com - Steven Bogoyevac - DRE #01332755 - Steven M. Bogoyevac, Broker 562-436-5800

$5,295,000

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2649 Marengo Street Los Angeles, CA 90033

Mixed Use Residence

Beds

Baths

29,096 Sq. Ft.

0.68 Acre Lot

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Time on Site

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Last updated on 11/16/2024 12:02 AM

Listing Details

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. Continue reading

MLS#

PW24056719

Property Type

Mixed Use

Status

Year Built

1989

Square Feet

29,096 sq. ft

Lot Size

0.68

Sewer