Skip To Content

    2649 Marengo Street

    Los Angeles (City), CA 90033
    • $6,100,000
    • STATUS: Active
    • ON SITE: 14 days
    • ID#: PW21158096
    UPDATED: 23 min ago
    $6,100,000
    • 0
      BEDS
    • 0.68
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1988
    County:

    School Ratings & Info

    Description

    2649 Marengo Street is a 24-unit apartment property for sale in Los Angeles Boyle Heights neighborhood. The propertys recent expiration of rent restrictions presents a new investor with the rare opportunity to reposition the property to a market-rate asset and add significant value.2649 Marengo Street is a three-story, 29,096-square foot 1988 construction with a very desirable mix of six one-bed/one-bath, 10 two-bed/one-bath, six three-bed/two-bath, and two four-bed/two-bath units. Each building has its own laundry room, and the property also offers a playground, 29 surface parking spots, and 22 tuck-under parking spots.Located in Boyle Heights, the property has easy access to Downtown Los Angeles entertainment and major employers, such as the nearby USC Medical Center. Massive expansion projects have been underway at the medical campus, including a new "Restorative Care Village, a new Hyatt Place hotel, and new student housing for 272 graduate students. Boyle Heights proximity to Downtown has also made it a target of redevelopment in recent years, and a new 81-room hotel at the corner of Soto and Pomeroy is nearly complete just a quarter-mile from the subject property.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-03T23:29:32.043. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
    www.theparsonsrealestateteam.com/homes/119486174
    Print Image

    2649 Marengo Street Los Angeles (City), CA 90033

    • Price: $6,100,000
    • Status: Active
    • Updated: 23 min ago
    • ID#: PW21158096
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.68
    Acres
    1988
    Built
    Neighborhood:
    BOYH - Boyle Heights
    County:
    Los Angeles
    Area:
    BOYH - Boyle Heights
    Property Description
    2649 Marengo Street is a 24-unit apartment property for sale in Los Angeles Boyle Heights neighborhood. The propertys recent expiration of rent restrictions presents a new investor with the rare opportunity to reposition the property to a market-rate asset and add significant value.2649 Marengo Street is a three-story, 29,096-square foot 1988 construction with a very desirable mix of six one-bed/one-bath, 10 two-bed/one-bath, six three-bed/two-bath, and two four-bed/two-bath units. Each building has its own laundry room, and the property also offers a playground, 29 surface parking spots, and 22 tuck-under parking spots.Located in Boyle Heights, the property has easy access to Downtown Los Angeles entertainment and major employers, such as the nearby USC Medical Center. Massive expansion projects have been underway at the medical campus, including a new "Restorative Care Village, a new Hyatt Place hotel, and new student housing for 272 graduate students. Boyle Heights proximity to Downtown has also made it a target of redevelopment in recent years, and a new 81-room hotel at the corner of Soto and Pomeroy is nearly complete just a quarter-mile from the subject property.
    Exterior Features

    Number Of Separate Electric Meters 0 Open Parking Spaces 29 Parking Total 51 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Common Walls No Common Walls

    Property Features

    Additional Parcels YN No Common Interest None Community Features Urban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 273570 Gross Scheduled Income 267240 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 71579 New Construction YN No Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 201991 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Lard1.5

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-03T23:29:32.043. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365818802-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365818802-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365818802-1.jpg
    Logo
    The Parsons Team | Keller Williams Realty
    251 S. Lake Ave #150
    Pasadena CA, 91101