For Sale
2221 Michigan Avenue M, Los Angeles, CA 90033
2221 Michigan Avenue M, Los Angeles, CA 90033
  • $4,300,000
  • $466

Overview

Property ID: HZ15589095
  • Residential Income
  • Property Type
  • 2
  • Bedrooms
  • 32
  • Bathrooms
  • 9229.00
  • Sqft
  • 1926
  • Year Built

Description

28 UNITS CURRENTLY VACANT! OPTION TO PURCHASE AS A PORTFOLIO (90 UNITS TOTAL). 2221 Michigan Ave presents an exceptional opportunity for investors in the heart of Boyle Heights. This well-maintained two-story apartment building, constructed in 1926, encompasses 9,229 square feet and comprises 32 units on a 6,053-square-foot lot. The unit mix consists of (24) Bachelors, (6) Studios, and (2) one bedroom + one bathroom units, catering to a diverse range of tenants. With 28 vacancies currently available, you can seize the opportunity to implement a value-add strategy and elevate the property to its full potential. By undertaking targeted renovations of individual units and common areas, you can position the asset to command premium market rental rates, offering flexibility for short-term and long-term tenancy arrangements. Participation in programs like the Section 8 Housing initiative through entities such as HACLA or PATH further enhances the property’s appeal. Strategically located in the vibrant Boyle Heights neighborhood, just west of downtown Los Angeles, 2221 Michigan Ave benefits from its central location. The area boasts a dense population and a strong working-class community. Residents enjoy convenient access to amenities such as MacArthur Park, popular taco trucks, and efficient public transportation options, including bus and metro lines. Major employers such as Kaiser Permanente, Bank of America, and the Los Angeles County Department of Public Health are nearby. This property represents an exceptional investment opportunity in a dynamic and rapidly evolving neighborhood, offering immediate rental income potential and long-term value appreciation. **Buyer to verify Bed/Bath count and unit type. * 2221 Michigan Ave. can be purchased with 323 N Soto St & 1818 N. Broadway as a portfolio.

  • Address 2221 Michigan Avenue
  • City Los Angeles
  • State/county CA
  • Zip/Postal Code 90033
  • Area BOYH - Boyle Heights
  • Country United States

Details

Updated on March 18, 2024 at 12:42 am
  • Property ID: HZ15589095
  • Price: $4,300,000
  • Property Size: 9229.00 Sqft
  • Land Area: 6181.00 Sqft
  • Bedrooms: 2
  • Bathrooms: 32
  • Year Built: 1926
  • Property Type: Residential Income
  • Property Status: For Sale
  • Living Area: 9229.00
  • Living Area Prefix: Sqft
  • MLS#: 24364103
  • Office Name: KELLER WILLIAMS STUDIO CITY
  • Agent Name: David Weinberger
  • MLS Status: Active
  • Co-Office Name: Keller Williams Studio City
  • Co-Agent Name: Megan Husri
  • Agent State License: 01349349
  • Co-Agent State License: 02089901

Additional details

  • Cooling: Wall/Window Unit(s)
  • County: Los Angeles
  • Parking: 0.00

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