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Income

SOLD: 1520 Menlo Avenue, Bungalow-Style 10-Unit Apartment Complex in Pico-Union

$1,775,000

SOLD

Click Me

stats

bedrooms

10

bathrooms

10

year

1924

units

10, 1-bed 1-bath each

building_sq._ft.

5,132

lot

7,300 SF

area

Pico-Union

highlight

Privately Gated

details

Figure 8 represented the buyer of this great 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 property's original character and current charm. 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 new 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.

location

1520 Menlo Ave

Los Angeles

photos

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contact

Scott
Harvey

Residential

(831) – 915 – 4692

scott@figure8re.com

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Figure 8 Realty | 1509 West Sunset Boulevard Suite B | Los Angeles, CA 90026 | (213) - 537 - 0114 | Login

Figure 8 Realty | Highland Park Office | 5683 York Blvd | Los Angeles, CA 90042 | (323) - 507 - 2114

Broker | Ed Faktorovich | BRE #01401897