206 E Avenue 40, Los Angeles, CA 90031
Local realty services provided by:CENTURY 21 Cornerstone
206 E Avenue 40,Los Angeles, CA 90031
$865,000
- 7 Beds
- 7 Baths
- 2,864 sq. ft.
- Multi-family
- Pending
Listed by: robert leveen
Office: robert leveen213-995-6684
MLS#:26662129
Source:CRMLS
Price summary
- Price:$865,000
- Price per sq. ft.:$302.03
About this home
We are pleased to present Avenue 40 Apartments located at 206 E. Avenue 40 in Los Angeles. The property is located on a quiet residential street nestled between Cypress Park and Highland Park. The charming seven unit complex was originally constructed in 1921 and had a major renovation in 2011. Significant upgrades were completed to the plumbing and electrical systems. New roofs were installed on three of the bungalows. Further, 206, 206 , and 208 have had major remodels since that time when the units became vacant. Total capex exceeds $150,000. The 2,864 SF property is comprised of six x studio/one bath, and one x one bedroom/one bath detached bungalows. There are individual water heaters (5 are tankless) and the property is separately metered and ownership only pays for water and sewer. The property is subject to city of Los Angeles Rental Stabilization Ordinance. Highland Park has enjoyed a renaissance over the last decade as a hip place to live. New restaurants and shopping have created a local economic engine, driving up property values and rents. The property is ideally situated to take advantage of the local burgeoning economy, and also has easy access to I-110 and I-5. Further, Metro's Heritage Square A Line station is less than a 10 minute walk from the property. The offering is an ideal opportunity for an investor to take advantage of a turnkey bungalow property. The property is 100% occupied. Priced at a 6.54% CAP upon acquisition, and major capital expenditures completed, this is an excellent low maintenance opportunity with approximately 40% rental upside....
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Home facts
- Year built:1921
- Listing ID #:26662129
- Added:54 day(s) ago
- Updated:May 03, 2026 at 07:40 AM
Rooms and interior
- Bedrooms:7
- Total bathrooms:7
- Kitchen Description:Oven, Refrigerator
- Living area:2,864 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
Structure and exterior
- Year built:1921
- Building area:2,864 sq. ft.
- Lot area:0.17 Acres
- Architectural Style:Bungalow
- Levels:1 Story
Finances and disclosures
- Price:$865,000
- Price per sq. ft.:$302.03
Features and amenities
- Amenities:Carbon Monoxide (CO2) Detector
Parking
- Total parking spaces:1
- Parking description:Driveway
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