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New FOR SALE
$6,100,000

2649 Marengo Street
Los Angeles, CA 90033

Cluster
Residence
29,096
Sq. Ft.
0.6841
Acre Lot
1of
Photos
Map
Courtesy: Steven Bogoyevac - Steven M. Bogoyevac, Broker
Showcase> California> Los Angeles> 90033
2649 Marengo Street is a 24-unit apartment property for sale in Los Angeles’ Boyle Heights neighborhood. The property’s 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.
PW21158096
Cluster, Other
Los Angeles
1988
0.6841 Acres
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

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