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2221 Michigan Ave, Los Angeles, CA 90033

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For Sale
Sale Pending

$4,300,000

2 beds • 9,229 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $465.92
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

2221 Michigan Ave presents an exceptional investment opportunity in the heart of Boyle Heights. This well-maintained two-story apartment building, built in 1926, spans 9,229 square feet and features 32 units on a 6,053-square-foot lot. The unit mix includes (24) Bachelors, (6) Studios, and (2) one bedroom + one bathroom units, catering to a diverse tenant base. With 28 UNITS CURRENTLY VACANT, investors can implement a value-add strategy to maximize the property's potential. Targeted renovations of individual units and common areas will allow the asset to command premium market rental rates, accommodating both short-term and long-term tenancy. Participating in programs like Section 8 Housing through HACLA or PATH can further enhance the property's appeal.Located in vibrant Boyle Heights, just west of downtown Los Angeles, 2221 Michigan Ave is ideally situated near renowned schools. It's just 2.5 miles from Cal State LA, 3 miles from the USC Health Sciences Campus, and a 10-15 minute drive from East Los Angeles College, offering convenience for student tenants.
MLS# 24-364103

Courtesy Of Keller Williams Realty Studio City

(818) 432-1500

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Lot Size
    0.14 Acres

Map and Directions

Directions to 2221 Michigan Ave, Los Angeles, CA 90033

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Monthly Payment Breakdown

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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2024. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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