Homes for sale - 245 E Avenue 38, Los Angeles, CA 90031

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Jennifer Lucero

yourfriendrealtorjen@gmail.com +1(909) 352-4884

$ 3,100,000

Est. payment | -/mo

0.51 Acres Lot

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$ 3,100,000

Est. payment | -/mo

Save

0.51 Acres Lot

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID P1-20955

HOA Y/N No

Year Built 1971

Lot Size 0.507 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area 618 - Eagle Rock

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Washer Hookup, Gas Dryer Hookup, In Kitchen

Exterior

Parking Features Gated, On Site

Fence Wrought Iron

Pool None

Community Features Sidewalks

View Y/N No

View None

Total Parking Spaces 30

Private Pool No

Building

Lot Description Sprinklers None

New Construction No

Others

Senior Community No

Tax ID 5451003028

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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

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Jennifer Lucero

Broker Associate | Lic# 01956495

yourfriendrealtorjen@gmail.com

+1(909) 352-4884

121 S Mountain Ave Upland, CA, 91786

245 E Avenue 38 Los Angeles, CA 90031

Jennifer Lucero

Key Details

Location

Interior

Exterior

Building

Others

245 E Avenue 38