1016 W 24th,Los Angeles, CA 90007
Los Angeles, CA 90007
Description
RARE INVESTMENT OPPORTUNITY - UNIVERSITY PARK (HISTORIC DISTRICT) ??? Introducing a 14-unit multifamily building located in the highly desirable University Park area, a recognized historic district known for its character, architectural significance, and long-term stability. This is a major value-add project offering a rare opportunity for seasoned investors and developers to acquire and reposition a sizable asset in one of the area’s most sought-after neighborhoods. The property requires a full rehabilitation, allowing a new owner to redesign, upgrade, and strategically reposition the building to meet today’s rental demand. This is a large-scale project, ideal for investors looking to maximize returns through a comprehensive renovation. A key advantage: all reports are already completed and available, providing transparency and a smoother path University Park continues to experience strong appreciation and rising rental demand, driven by its historic designation, proximity to major universities, downtown, transit corridors, and ongoing revitalization efforts. Fully renovated multifamily properties in this area command premium rents and show consistent long-term value growth. Once rehabbed, this asset has the potential to become a high-performing income property with both immediate cash flow and significant equity upside. Historic multifamily assets in central, high-demand locations are becoming increasingly scarce. Investors who successfully execute projects like this often see substantial increases in property value, long-term rent stability, and strong resale potential. This is the type of opportunity that creates generational wealth
Details
| MLS # | SR26020163 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1964 |
| Days On Site | 228 |
| Listing Provided By | Luxury Collective | Ivette Bertin |
Features
| SQ Feet | 6,000 |
|---|---|
| Story(s) | 3 |
| Units | 14 |
| Acreage | 0.17 |
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | 699 Not Defined |
| Listing VS Median (in 90007) | |
Price: $1,800,000 low | high Med: $649,000 sqft: 6,000 low | high Med: 975 $ / sqft: $300 low | high Med: $666 On site: 228 low | high Med: 95 | |
Market Activity 90007
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | 699 Not Defined |
| Listing VS Median (in 90007) | |
Price: $1,800,000 low | high Med: $649,000 sqft: 6,000 low | high Med: 975 $ / sqft: $300 low | high Med: $666 On site: 228 low | high Med: 95 | |
