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Ever Banuelos

ever.banuelos@gmail.com +1(323) 833-9824

$865,000

Est. payment - /mo

7 Beds

7 Baths

2,864 SqFt

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Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 2,864 sqft

Price per Sqft $302

MLS Listing ID 26662129

Style Bungalow

Bedrooms 7

Construction Status Additions/Alter, Updated/Remodeled

Year Built 1921

Lot Size 7,500 Sqft

Acres 0.1722

Property Sub-Type Multi-Family

Property Description

We are pleased to present Avenue 40 Apartments located at 206 E. Avenue 40 in Los Angeles. The property is located on a quiet residential street nestled between Cypress Park and Highland Park. The charming seven unit complex was originally constructed in 1921 and had a major renovation in 2011. Significant upgrades were completed to the plumbing and electrical systems. New roofs were installed on three of the bungalows. Further, 206, 206 , and 208 have had major remodels since that time when the units became vacant. Total capex exceeds $150,000. The 2,864 SF property is comprised of six x studio/one bath, and one x one bedroom/one bath detached bungalows. There are individual water heaters (5 are tankless) and the property is separately metered and ownership only pays for water and sewer. The property is subject to city of Los Angeles Rental Stabilization Ordinance. Highland Park has enjoyed a renaissance over the last decade as a hip place to live. New restaurants and shopping have created a local economic engine, driving up property values and rents. The property is ideally situated to take advantage of the local burgeoning economy, and also has easy access to I-110 and I-5. Further, Metro's Heritage Square A Line station is less than a 10 minute walk from the property. The offering is an ideal opportunity for an investor to take advantage of a turnkey bungalow property. The property is 100% occupied. Priced at a 6.54% CAP upon acquisition, and major capital expenditures completed, this is an excellent low maintenance opportunity with approximately 40% rental upside.

Location

State CA

County Los Angeles

Area Lincoln Heights

Zoning LARD2

Rooms

Other Rooms None

Dining Room 0

Interior

Interior Features None

Heating Wall Gas

Cooling Wall/Window

Equipment Range/Oven, Refrigerator

Laundry None

Exterior

Parking Features Driveway

Garage Spaces 1.0

Pool None

Amenities Available None

Waterfront Description None

Building

Lot Description Single Lot, Lot-Level/Flat, Street Paved, Curbs

Story 1

Sewer In Street

Water Public, Meter on Property

Architectural Style Bungalow

Level or Stories One

Construction Status Additions/Alter, Updated/Remodeled

Others

Special Listing Condition Standard

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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Robert Leveen

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Ever Banuelos

Team Leader | License ID: 01945384

+1(323) 833-9824 | ever.banuelos@gmail.com

206 E Avenue 40 Los Angeles, CA 90031

Ever Banuelos

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby Locations

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