245 E Avenue 38, Los Angeles, CA 90031

About this property

245 E Avenue 38 is a well-maintained, 11-unit multifamily property in the evolving North East LA submarket. Built in 1971, the two-story complex spans 13,622 square feet on a 0.53-acre lot, offering a unique combination of stable income and future development potential. The property features a large parking lot with 30 spaces, an increasingly rare asset in Los Angeles, which could be leveraged for additional units or amenities. With its proximity to Highland Park, Cypress Park, and major transportation hubs, the property is ideally positioned to benefit from strong rental demand. All units are currently leased to long-term tenants, providing an investor with reliable cash flow. Additionally, the enclosed front and rear patios in each unit create a desirable living experience, supporting tenant retention and long-term value. This investment offers a combination of immediate income stability and future upside, making it a compelling opportunity in one of LA's most dynamic residential markets.

Listing description from the May 2025 sale, as reported to CRMLS.

Sale history

$2,900,000

Sold May 2025 · listed $3,100,000, on market February 2025 · MLS #P1-20955 · Source: CRMLS

Listing Agent: Katherine Vargas · Listing Office: Katherine Vargas · Contact: (626) 487-7922 · Bought with: Katherine Vargas · Katherine Vargas

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