3220 W 2nd Street, Los Angeles, CA 90004

Description

Offered at approximately $185 per square foot, far below today's replacement cost, this multifamily asset presents a rare opportunity to acquire in the Los Angeles market with a built-in value cushion while still benefiting from meaningful upside. The property features a well-balanced unit mix of two spacious 2-bedroom/2-bath units and four 1-bedroom/1-bath units, appealing to a broad tenant base ranging from small families and roommates to young professionals, supporting both strong retention and consistent demand. Situated on a large corner lot, the asset is comprised of two separate structures, creating a low-density, open layout with abundant natural light, improved airflow, and enhanced curb appeal. One structure includes townhouse-style units, further elevating tenant appeal for those seeking a more private, residential feel. Each unit enjoys its own private exterior entrance, reinforcing the property's home-like atmosphere, while six individual garages at the rear provide highly sought-after secure parking. Operational efficiency is enhanced by separately metered utilities, allowing tenants to cover their own usage and reducing expenses for ownership. With approximately 22% rental upside, investors have a clear path to increase income through strategic renovations, modernized interiors, and improved curb appeal. Complementing these fundamentals, the property showcases classic vintage architecture, including a pitched roof and raised foundation, offering timeless character that can be thoughtfully preserved while upgrading to meet today's rental expectations.

Listing description from the July 2026 sale, as reported to CRMLS.

Sale history

$1,420,000

Sold July 2026 · listed $1,480,000, on market March 2026, 56 days on market · MLS #26665803 · Source: CRMLS

Listing Agent: Saadia 'Sam' Liberow · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Josh Afighom · Josh Afi Group

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