1724 Menlo Avenue
Property Description
1726 Menlo Ave is a fully stabilized newly constructed 2024 five-unit multifamily community located in the heart of Pico-Union, just minutes from Downtown Los Angeles, Koreatown, and USC. This NON-RENT-CONTROLLED asset offers investors a rare opportunity to acquire a turn-key property with an attractive REAL 6.37% stabilized cap rate, low operating expenses, and an exceptional price point at under $400/SF - an increasingly rare value for new construction multifamily in central Los Angeles. The property features an ideal unit mix across two modern buildings, consisting of two 4-bedroom/4-bathroom units, two 3-bedroom/3.5-bathroom units, and one 1-bedroom/1-bathroom unit. Each residence includes private entrances, in-unit washers and dryers, separately metered gas, water, and electricity, and luxury finishes throughout, including modern kitchens, designer tile, high ceilings, and oversized windows. The property also offers eight dedicated parking spaces, enhancing long-term tenant appeal. With a Walk Score of 85 and close proximity to LA Live, Arena, the Arts District, and Koreatown's dining and nightlife. 1726 Menlo Ave is well positioned to attract strong tenant demand from students, young professionals, and creatives alike. As new multifamily construction opportunities continue to tighten under SB-8 restrictions, this property presents an exceptional opportunity for investors seeking stable cash flow, minimal maintenance, and long-term appreciation potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,900,000 |
| No. of Units: | 5 |
| Year Built: | 2024 |
| Opportunity Zone: | No |
| Price per unit: | $580,000 |
| Number of Bedrooms: | 15 |
| Number of Bathrooms: | 17 |
ID: 3yd-MRMLSCA-BB26115819
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