212 E 29th St | Los Angeles, CA 90011
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212 E 29th St
Los Angeles, CA 90011
Multifamily Property For Sale · 5 Units
Investment Highlights
- Massive Bedrooms
- Assigned Parking For All Units
- Beautiful DTLA Views!
Executive Summary
Opportunity Zone!! This newly constructed 5-unit property at 212 E 29th St., presents an outstanding opportunity with a pro-forma 6.26% cap rate, making it ideal for investors seeking strong returns. Two of the units are currently leased at $4,100 per month. The fully gated property consists of two brand-new buildings, a duplex in front and duplex plus attached ADU at rear, thoughtfully designed with modern amenities and low-maintenance features. Each unit is equipped with sleek stainless steel kitchen appliances, in-unit washer and dryers, and energy-efficient tankless water heaters. Some of the units offer breathtaking views of Downtown LA, adding even more appeal to potential tenants. With a total of 9 parking spaces, 7 secure garages and 2 partially covered carports plus room to create an additional space, the property provides ample parking, a major bonus for city living. The property's prime location is a key selling point, situated near major institutions like USC, LA Trade-Tech College, and California Hospital Medical Center, making it attractive to students, faculty, and medical professionals alike. It's also just a short distance from Downtown LA's vibrant entertainment and dining scene, including LA Live, Staples Center, and a variety of acclaimed restaurants. Surrounded by schools, parks, and community amenities, this property appeals to a wide range of tenants. With minimal landscaping and a design that emphasizes low upkeep, this turnkey investment is poised for long-term growth and steady cash flow in one of LA's rapidly developing neighborhoods. Don't miss the chance to capitalize on this unique offering!
PROPERTY FACTS
| Price Per Unit | $579,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.26% | Building Size | 7,918 SF |
| Gross Rent Multiplier | 12.12 | Average Occupancy | 40% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price Per Unit | $579,000 |
| Sale Type | Investment |
| Cap Rate | 6.26% |
| Gross Rent Multiplier | 12.12 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 7,918 SF |
| Average Occupancy | 40% |
| No. Stories | 3 |
| Year Built | 2024 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Island Kitchen
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4 | 4 | - | 1,553 - 1,644 |
| 4+5 | 1 | - | 1,515 |
zoning
| Zoning Code | LARD1.5 |
| LARD1.5 |
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