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4,178 sqft

$1,625,000

2321 3rd Avenue, Los Angeles CA, 90018

Price per sqft$388.94
Built in1958
Property size4,178 sqft
Property typeOther

Overview

Active

Listed Jul 8, 2026

Updated 12 days ago

An exceptional investment opportunity to acquire a turnkey seven-unit apartment community in the highly sought-after Historic West Adams Terrace neighborhood tucked away on a quiet cul-de-sac street . Ownership has invested over $100,000 in recent capital improvements. Major upgrades include a newly installed 400-amp electrical service with new feeder lines to the subpanels, completion of soft-story seismic retrofit, and California's SB721 balcony requirements through newly upgraded balconies and all new steel railings. The property consists entirely of seven 2-bedroom, 1-bathroom units featuring desirable open-concept living and kitchen layouts. 3 units will be purposely delivered vacant, providing investors with the rare opportunity to lease at current market rates and establish their own tenant profile from day one, while the remaining occupied units generate immediate cash flow. Additional amenities include ample on-site parking, providing convenience for residents in this highly desirable neighborhood. West Adams has emerged as one of Los Angeles' premier investment corridors, fueled by continued redevelopment, expanding employment centers, and growing demand from renters seeking a central location with authentic neighborhood character. Residents enjoy immediate access to Downtown Los Angeles, Culver City, USC, Mid-City, Koreatown, Baldwin Hills, Hollywood, the Westside, The surrounding neighborhood continues to attract new investment while preserving its historic charm. Residents are within minutes of acclaimed dining and lifestyle destinations including Tartine West Adams, Alta Adams, Farmhouse Thai, Johnny's West Adams, Truffle Brothers Spaccia Salumeria, Re/Creation Caf, Harold & Belle's, El Cholo Caf, and the Surfas Culinary District. The property also benefits from close proximity to major employment, educational, and cultural destinations including Downtown Los Angeles, Crypto.com Arena, the Los Angeles Convention Center, LACMA, the University of Southern California, and Los Angeles Trade-Technical College, all of which continue to support exceptional rental demand. Ideally positioned adjacent to the recently renovated Benny H. Potter Park and within a neighborhood poised for continued appreciation ahead of the 2028 Olympic Games, this offering represents a compelling opportunity for investors seeking a quality multifamily asset and strong long-term fundamentals in one of Los Angeles' most dynamic rental markets. Annual Gross Income takes into

$10,811/mo

Est. mortgage payment based on a $1,625,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
CL26856303

Interior Features

Heating
Yes
Basement
No

Exterior Features

Lot Size
0.15 Acres
MLS provider logo

Listed by Danny Mahelka, with Coldwell Banker Realty
Listing Contact: 310-887-0220 

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