1329 2nd Avenue
$1,645,000
8
6
5,824
5,824
$282
Description
Daniel Hirth and Alex Reyhan of The Hirth Group are excited to present the exclusive opportunity to acquire 1329 2nd Avenue, a rare six-unit multifamily property in the vibrant and rapidly evolving Arlington Heights submarket of Los Angeles. This investment gem offers not only immediate cash flow but also substantial upside through renovation and re-tenanting. Situated on a 7,500 square-foot lot, this well-maintained asset features two separate buildings that span a total of approx. 5,824 square...Daniel Hirth and Alex Reyhan of The Hirth Group are excited to present the exclusive opportunity to acquire 1329 2nd Avenue, a rare six-unit multifamily property in the vibrant and rapidly evolving Arlington Heights submarket of Los Angeles. This investment gem offers not only immediate cash flow but also substantial upside through renovation and re-tenanting. Situated on a 7,500 square-foot lot, this well-maintained asset features two separate buildings that span a total of approx. 5,824 square feet. The front building is a quadruplex with four distinct units, while the rear structure is a duplex with two units. The current unit mix includes two 2-bedroom, 1-bath units and four 1-bedroom, 1-bath units, two of which have been upgraded to 2-bedroom, 1-bath layouts, providing versatility and potential for higher rents. With six private parking garages, the property offers a competitive edge in an area where parking is a coveted amenity. 1329 2nd Avenue is a compelling investment for those seeking both stability and a value-add component. Currently delivering a strong return of 6.02% at a 12.32 GRM, with tremendous upside potential upon re-tenanting after renovation, this multifamily asset has the ability to perform at a projected 7.15% CAP rate and an attractive 10.71 GRM. As an added advantage, the unit conversions (from 1-bedroom to 2-bedroom layouts) were completed without permits, offering savvy investors the flexibility to formalize these changes with permits, reconfigure to original specifications, or even explore further development options, subject to local zoning regulations.
- Listed by Daniel Hirth • DRE #01515796 • Brokerage DRE #01854200 • KW Advisors
Property Details for 1329 2nd Avenue
Zoning
LARD1.5
Cross StreetsW Pico Boulevard and 2nd Avenue
Parcel Number5072036019
Total Units6.0
Living Area5824
Source Living AreaVendor Enhanced
AreaMid Los Angeles (C16)
Vacancy Rate3%
LISTING UPDATED: 12/11/2024 12:39 PM
Property Details for 1329 2nd Avenue
Status | Active |
---|---|
MLS # | 24-466229 |
Days on Market | 80 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1906 |
Lot Size | 0.17 AC / 7,502 SF |
County | Los Angeles County |
Building Information for 1329 2nd Avenue
Stories2Residences-Year Built1906Building Size-Lot Size0.17 AC / 7,502 SF
Property Information for 1329 2nd Avenue
Property History for 1329 2nd Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1329 2nd Avenue
Taxable ValueLand$1,020,000Additions$510,000Total$1,530,000
Tax Record2024$19,537 ($1,628 / month)
Home Facts
Total Finished SqFt5,824 SqFtAbove Grade Finished SqFt5,824 SqFtLot Size7,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1906ZoningLARD1.5CountyLOS ANGELESAPN5072-036-019
Schools near 1329 2nd Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Carson-Gore Academy Of Enviornmental Studies PublicK to 5 | ||
Pio Pico Middle School Public6 to 8 | ||
Los Angeles Senior High School Public9 to 12 | ||
Global Education Academy Middle School Charter6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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