2649 Marengo Street

Los Angeles, CA 90033

$5,300,000
Price
52
Beds
32
Baths
29,096 Sq. Ft.
$182 / Sq. Ft.
29,096
Sq. Ft.
$182
per Sq. Ft.

Description

Constructed in 1989, the property is not subject to Los Angeles rent control and features an outstanding unit mix, with 75% of the units holding two, three, or four bedrooms. Available for only $182 per square foot, the property features spacious floorplans that average approximately 1,200 square feet per apartment. The sprawling lot features ample parking, with approximately 46 covered and open parking spaces atop the concrete driveway. Each of the three apartment groupings contains its own on-site...Constructed in 1989, the property is not subject to Los Angeles rent control and features an outstanding unit mix, with 75% of the units holding two, three, or four bedrooms. Available for only $182 per square foot, the property features spacious floorplans that average approximately 1,200 square feet per apartment. The sprawling lot features ample parking, with approximately 46 covered and open parking spaces atop the concrete driveway. Each of the three apartment groupings contains its own on-site laundry room, helping to provide additional cash flow to the owner. Many of the unit interiors have been updated with wood laminate flooring, and select units feature recessed lighting, new kitchen countertops, walk-in closets, and upgraded bathrooms. Engineering plans have been drafted for six potential ADUs, which would be constructed within the existing covered parking areas (Buyer to verify). Implementing this ADU plan could add significant value to the asset, while simultaneously boosting annual income as the new ADUs could potentially generate more than$100,000 in annual revenue for the new investor. The property is conveniently located less than a half-mile from the LAC + USC Medical Center and the Keck School of Medicine campus, a major employer for the surrounding area. Tenants also enjoy convenient access to the 5, 10, 60, 101, and 710 Freeways, which are each within approximately two miles of the property. Downtown Los Angeles, Dodger Stadium, Crypto.com Arena, and L. A. Live are all within a 10-minute drive from the building, while tenants can easily travel to the trendy Arts District for its new dining and entertainment options.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 2649 Marengo Street

Zoning
LARD1.5
Parcel Number
5177002054
Total Units
24.0
Living Area
29096
Source Living Area
Assessor
Area
Boyle Heights (BOYH)
Vacancy Rate
2
Lot Size Area
29798
LISTING UPDATED: 01/29/2025 12:01 AM

Property Details for 2649 Marengo Street

StatusActive
MLS #25-487275
Days on Market23
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1989
Lot Size0.68 AC / 29,798 SF
CountyLos Angeles County

Building Information for 2649 Marengo Street

Stories2Residences-Year Built1989Building Size-Lot Size0.68 AC / 29,798 SF

Property Information for 2649 Marengo Street

Community / Development
Community / Development
  • Number Of Units: 24
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 6
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $470,811
  • Net Operating Income: $266,900.00
  • Gross Income: $425,916
  • Cap Rate: 5.04%
  • Gross Rent Multiplier: $10.96
  • Total Annual Expense: 203911
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 29798
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 46
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 01-23-2025
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,175.00
  • Unit Actual Rent: $7,051.00
  • Unit Projected Rent: $8,010.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,374.00
  • Unit Actual Rent: $13,740.00
  • Unit Projected Rent: $24,950.00
  • Like Units: 10
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,944.00
  • Unit Actual Rent: $11,667.00
  • Unit Projected Rent: $18,522.00
  • Like Units: 6
Unit 4 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,517.00
  • Unit Actual Rent: $3,035.00
  • Unit Projected Rent: $7,790.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,379,881.00
  • Assessed Land Value: $649,355.00

Property History for 2649 Marengo Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2649 Marengo Street

Taxable ValueLand$738,852Additions$1,570,065Total$2,308,917
Tax Record2024$31,799 ($2,650 / month)
Home Facts
Total Finished SqFt29,096 SqFtAbove Grade Finished SqFt29,096 SqFtLot Size29,798 SqFtStyleMulti-Family Res (5+ Units)Year Built1988ZoningLARD1.5CountyLOS ANGELESAPN5177-002-054

Schools near 2649 Marengo Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Charter - K to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Evergreen Avenue Elementary School
PublicK to 6

Extera Public Schools
CharterK 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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2649 Marengo Street is a multi-family home for sale in Los Angeles, CA 90033. This property was listed for sale on January 21, 2025 by Marcus & Millichap, it's currently listed at $5,300,000. It has been on the market for a total of 23 days and was last sold on August 2, 2011. This listing's school district is Los Angeles Unified School District. Nearby schools include Evergreen Avenue Elementary School, Extera Public Schools and East Los Angeles Renaissance Academy At Esteban E. Torres High No. 2. 2649 Marengo Street is a 52-bed, 32-bath, 29,096 sqft multi-family home built in 1989.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.