2321 3rd AVE, Los Angeles, CA 90018
2321 3rd AVE, Los Angeles, CA 90018
2321 3rd AVE, Los Angeles, CA 90018
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Elvida Salazar

Elvida Salazar

+1(760) 801-9758
$1,625,000
Est. payment /mo
14 Beds
7 Baths
4,178 SqFt
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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,178 sqft

Price per Sqft $388

MLS Listing ID 26856303

Bedrooms 14

HOA Y/N No

Year Built 1958

Lot Size 6,503 Sqft

Property Description

An exceptional investment opportunity to acquire a turnkey seven-unit apartment community in the highly sought-after Historic West Adams Terrace neighborhood tucked away on a quiet cul-de-sac street . The property consists entirely of seven 2-bedroom, 1-bathroom units featuring desirable open-concept living and kitchen layouts. Ownership has invested over $100,000 in recent capital improvements. Major upgrades include a newly installed 400-amp electrical service with new feeder lines to the subpanels, completion of soft-story seismic retrofit, and California's SB721 balcony requirements through newly upgraded balconies and all new steel railings. 3 units will be purposely delivered vacant, providing investors with the rare opportunity to lease at current market rates and establish their own tenant profile from day one, while the remaining occupied units generate immediate cash flow. Additional amenities include ample on-site parking, providing convenience for residents in this highly desirable neighborhood. West Adams has emerged as one of Los Angeles' premier investment corridors, fueled by continued redevelopment, expanding employment centers, and growing demand from renters seeking a central location with authentic neighborhood character. Residents enjoy immediate access to Downtown Los Angeles, Culver City, USC, Mid-City, Koreatown, Baldwin Hills, Hollywood, the Westside, The surrounding neighborhood continues to attract new investment while preserving its historic charm. Residents are within minutes of acclaimed dining and lifestyle destinations including Tartine West Adams, Alta Adams, Farmhouse Thai, Johnny's West Adams, Truffle Brothers Spaccia Salumeria, Re/Creation Caf, Harold & Belle's, El Cholo Caf, and the Surfas Culinary District. The property also benefits from close proximity to major employment, educational, and cultural destinations including Downtown Los Angeles, Crypto.com Arena, the Los Angeles Convention Center, LACMA, the University of Southern California, and Los Angeles Trade-Technical College, all of which continue to support exceptional rental demand. Ideally positioned adjacent to the recently renovated Benny H. Potter Park and within a neighborhood poised for continued appreciation ahead of the 2028 Olympic Games, this offering represents a compelling opportunity for investors seeking a quality multifamily asset and strong long-term fundamentals in one of Los Angeles' most dynamic rental markets. Annual Gross Income takes into account that vacant units are rented at $2,400 each, which is a conservative number for 2 bed + 1 bath in this neighborhood.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LARD2

Interior

Heating Wall Furnace

Cooling None

Flooring Carpet, Wood

Fireplace No

Appliance Disposal, Refrigerator

Exterior

Parking Features Attached Carport, Carport, Driveway

Carport Spaces 8

Pool None

Total Parking Spaces 12

Private Pool No

Building

Faces East

Story 2

Entry Level One

Sewer Other

Architectural Style Contemporary

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5059025005

Special Listing Condition Standard

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Listed by Danny Mahelka Coldwell Banker Realty #01170359

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Elvida Salazar

Elvida Salazar

+1(760) 801-9758

Realtor® | Property Management Specialist | License ID: DRE# 01775858

Realtor® | Property Management Specialist License ID: DRE# 01775858

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