1724 Menlo Ave,
Pico-Union
Fully Leased, 2024 Fourplex + ADU
1724 Menlo Ave is a non-rent-controlled 2024 built five-unit community in the heart of Pico-Union, just minutes from Downtown Los Angeles and Koreatown. The property offers an ideal mix of two 4BD/4BA, two 3BD/3.5BA, and one 1BD/1BA units, all featuring premium finishes, private entrances, in-unit laundry, and separate utility meters. With a strong 6.05% stabilized cap rate, low expenses, and a highly walkable location near major employers, entertainment, and dining, this is a rare turn-key investment opportunity in one of LA’s most dynamic rental markets.
The Important
Details
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# Units:
Year Built:
Cap Rate:
GRM:
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$2,999,000
Fourplex + ADU
Pre-Market
5
2024
6.05%
12.82
$233,940/Year
7,300 sqft
6,122 sqft
$410.82
$599,800
2x 4b/4b, 2x 3b/3.5b, 1x 1b/1b
No
8 Parking Spots
No
Other Features:
Pre-Market, No Rent Control, 100% Leased!
The Highlights
NO RENT CONTROL!
Located in the heart of Pico-Union neighborhood, just minutes from Downtown Los Angeles and Koreatown!
Outstanding REAL cap rate of 6.05%! Cash cow, making you money on day 1!
Thoughtfully designed units with premium floorplans that renters love.
Boasts high-end, modern finishes.
Ideal unit mix of two 4-bedroom untits, two 3-bedroom units, and one 1-bedroom unit. High income producing property!
All units separately metered for electric, water and gas! Very low expenses!
Dream 1031 exchange opportunity. Ready to close now!
With SB-8 in effect, less new constructions are being built, making properties like these an even more rare and hot commodity.
An impressive walk score of 85, you'll find a vibrant mix of dining, cafes and entertainment!
Short drive to LA Live, USC Campus, Crypto.com Arena, the Arts District, and cultural landmarks. Plus just a few miles from tons of major employers and creative hubs!
The Neighborhood
<15-Minute Walk
Roscoe's House of Chicken and Waffles, John C. Fremont High School, El Pollo Loco, The Burger Palace, Oh Manna Fish Market, Church's Texas Chicken, A Huevo Cafe, Ying Hana Teriyaki
<15-Minute Drive
Planet Fitness, Target, King Taco, Starbucks, Millan's Ranchito Restaurant, In-N-Out Burger, Tierra Mia, Walgreens, LA Fitness, NORMS, Coffee, Metropolitan Park Twin 2 Theatre, La Monarca Bakery & Cafe
<$15 Uber Ride
University of Southern California, The Kia Forum, BMO Stadium, SoFi Stadium, California Science Center IMAX, YouTube Theater, Natural History Museum of Los Angeles County, LA Memorial Coliseum
Contact
Lauren Cearley
213.302.8662
Property Presented By:
