Property Details
About this Property
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.
MLS Listing Information
MLS #
CRP1-20955
MLS Source
California Regional MLS
Interior Features
Kitchen
None
Cooling
Window/Wall Unit
Exterior Features
Pool
None
Parking, School, and Other Information
Garage/Parking
Common Parking Area, Gate/Door Opener, Garage: 0 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
245 E Avenue 38 is a Residential Income in Los Angeles, CA 90031. This – square foot property sits on a 22,080 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,900,000 and was built in 1971. This address can also be written as 245 E Avenue 38, Los Angeles, CA 90031.
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This listing information is up-to-date as of May 04, 2025. For the most current information, please contact Katherine Vargas
