$2,100,000
Est. payment /mo
7,226 Sqft Lot
New
1016 W 24th Los Angeles, CA 90007
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Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26014675
HOA Y/N No
Year Built 1964
Lot Size 7,226 Sqft
Property Sub-Type Apartment
Property Description
RARE INVESTMENT OPPORTUNITY – UNIVERSITY PARK (HISTORIC DISTRICT) ???
Introducing a 14-unit multifamily building located in the highly desirable University Park area, a recognized historic district known for its character, architectural significance, and long-term stability. This is a major value-add project offering a rare opportunity for seasoned investors and developers to acquire and reposition a sizable asset in one of the area's most sought-after neighborhoods.
The property requires a full rehabilitation, allowing a new owner to redesign, upgrade, and strategically reposition the building to meet today's rental demand. This is a large-scale project, ideal for investors looking to maximize returns through a comprehensive renovation. A key advantage: all reports are already completed and available, providing transparency and a smoother path toward planning, budgeting, and execution.
University Park continues to experience strong appreciation and rising rental demand, driven by its historic designation, proximity to major universities, downtown, transit corridors, and ongoing revitalization efforts. Fully renovated multifamily properties in this area command premium rents and show consistent long-term value growth. Once rehabbed, this asset has the potential to become a high-performing income property with both immediate cash flow and significant equity upside.
Historic multifamily assets in central, high-demand locations are becoming increasingly scarce. Investors who successfully execute projects like this often see substantial increases in property value, long-term rent stability, and strong resale potential. This is the type of opportunity that builds generational wealth and a resilient investment
Introducing a 14-unit multifamily building located in the highly desirable University Park area, a recognized historic district known for its character, architectural significance, and long-term stability. This is a major value-add project offering a rare opportunity for seasoned investors and developers to acquire and reposition a sizable asset in one of the area's most sought-after neighborhoods.
The property requires a full rehabilitation, allowing a new owner to redesign, upgrade, and strategically reposition the building to meet today's rental demand. This is a large-scale project, ideal for investors looking to maximize returns through a comprehensive renovation. A key advantage: all reports are already completed and available, providing transparency and a smoother path toward planning, budgeting, and execution.
University Park continues to experience strong appreciation and rising rental demand, driven by its historic designation, proximity to major universities, downtown, transit corridors, and ongoing revitalization efforts. Fully renovated multifamily properties in this area command premium rents and show consistent long-term value growth. Once rehabbed, this asset has the potential to become a high-performing income property with both immediate cash flow and significant equity upside.
Historic multifamily assets in central, high-demand locations are becoming increasingly scarce. Investors who successfully execute projects like this often see substantial increases in property value, long-term rent stability, and strong resale potential. This is the type of opportunity that builds generational wealth and a resilient investment
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 14.0
Garage Description 14.0
Pool None
Community Features Suburban, Valley
Total Parking Spaces 14
Private Pool No
Building
Lot Description 0-1 Unit/Acre, 11-15 Units/Acre
Story 3
Sewer Public Sewer, Unknown
Water Public
New Construction No
Others
Senior Community No
Tax ID 5124008020
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Listed by Ivette Bertin Luxury Collective 818-915-0160
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