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    1520 Menlo Ave

    Los Angeles, CA 90006
    • $1,800,000
    • STATUS: Active
    • ON SITE: 27 days
    • MLS #: 21-775672
    UPDATED: 63 min ago
    $1,800,000
    • 10
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,132
      SQFT
    • $351
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    Welcome to the heart of Pico-Union. A distinctive, Los Angeles neighborhood nestled between the ever-growing Downtown market and the youthful Koreatown suburb. 1520 Menlo Ave is a Bungalow style 10-unit apartment building that consists of ten (10) one-bedroom one-bathroom units. This five-building, privately gated apartment was built in 1924 and meticulously upgraded in 2020 to shine a light on the properties original character and current charm. A new owner will benefit greatly from this clean apartment building. Not only has the current owner upgraded the entire common area of the property, four of the ten units have received upgrades, providing a road map for the next owner to add-value and achieve the upside potential inherent in the property. The property features well-manicured landscaping and a fantastic location to nearby hotspots. This area is the premier location for long-term rental growth assets. The Pico-Union area has become the epicenter for families and professionals in Los Angeles in a long-term blue-collar market. Investors are flocking to Pico-Union as average rents are pushing $2,000/month for a one-bedroom and as population growth is projected as steady increases for years to come, this is a seize the moment opportunity for any strong investor looking to secure property in one of LAs best submarkets. Its prime location and abundant local hot spots being but a brief walk away, all residents and working professionals obtain quick commute times in a city plagued with standstill traffic- making an abundance of renters readily available.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-20T20:42:54.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.searchdesertrealestate.com/homes/120745367
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    1520 Menlo Ave Los Angeles, CA 90006

    • Price: $1,800,000
    • Status: Active
    • Updated: 63 min ago
    • MLS #: 21-775672
    10
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    5,132
    SQFT
    $351
    $/SQFT
    1924
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    Welcome to the heart of Pico-Union. A distinctive, Los Angeles neighborhood nestled between the ever-growing Downtown market and the youthful Koreatown suburb. 1520 Menlo Ave is a Bungalow style 10-unit apartment building that consists of ten (10) one-bedroom one-bathroom units. This five-building, privately gated apartment was built in 1924 and meticulously upgraded in 2020 to shine a light on the properties original character and current charm. A new owner will benefit greatly from this clean apartment building. Not only has the current owner upgraded the entire common area of the property, four of the ten units have received upgrades, providing a road map for the next owner to add-value and achieve the upside potential inherent in the property. The property features well-manicured landscaping and a fantastic location to nearby hotspots. This area is the premier location for long-term rental growth assets. The Pico-Union area has become the epicenter for families and professionals in Los Angeles in a long-term blue-collar market. Investors are flocking to Pico-Union as average rents are pushing $2,000/month for a one-bedroom and as population growth is projected as steady increases for years to come, this is a seize the moment opportunity for any strong investor looking to secure property in one of LAs best submarkets. Its prime location and abundant local hot spots being but a brief walk away, all residents and working professionals obtain quick commute times in a city plagued with standstill traffic- making an abundance of renters readily available.
    Exterior Features

    Direction Faces West Entry Location Ground Level W/Steps Levels Ground Level Lot Location None Lot Size Area 7300 Other Structures None Parking Garage None Patio Features None Paved YN Yes Pool Description None Pool YN No Spa None Spa YN No Sprinklers Drip System Style Bungalow Tennis Court None Total Parking 0 View Description None View YN No Water Frontage None

    Interior Features

    Bathroom Features Under Vanity LightingShower Over TubLinen ClosetLow Flow Toilet(S)Low Flow Shower(S) Baths Total 10.00 Bedroom Features Master BedroomWalkincloset Cooking Appliances Gas Cooling Wall/Window Equipment Range/Oven Fireplace Rooms KitchenBathMaster BedroomLiving Room Flooring HardwoodLaminate Foundation Details Raised Heating Wall Gas Kitchen Features Remodeled Laundry None

    Property Features

    Alley YN Yes Assessed Total Value 1456560 Gross Income 136181 Gross Operating Income 132095 Like Units1 2 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 81482.00 Number Of Buildings 5 Number Of Units 10 Owner Pays GasElectricityGardenerWater Property Condition Updated/Remodeled Rent Control YN Yes Sale Type Standard Security Features GatedExterior Security LightsCarbon Monoxide Detector(S) Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 50613 Type Of Units Apt Water District Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard1.5

    Listing provided courtesy of John Wright DRE# of Matthews Real Estate Investment Services.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-20T20:42:54.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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