2221 Michigan Avenue
Los Angeles, CA 90033
- – beds
- – baths
- – sqft
- 6,181 sqft lot
- 1926 build
- – on site
28 UNITS CURRENTLY VACANT! OPTION TO PURCHASE AS A PORTFOLIO (90 UNITS TOTAL). 2221 Michigan Ave presents an exceptional opportunity for investors in the heart of Boyle Heights. This well-maintained two-story apartment building, constructed in 1926, encompasses 9,229 square feet and comprises 32 units on a 6,053-square-foot lot. The unit mix consists of (24) Bachelors, (6) Studios, and (2) one bedroom + one bathroom units, catering to a diverse range of tenants. With 28 vacancies currently available, you can seize the opportunity to implement a value-add strategy and elevate the property to its full potential. By undertaking targeted renovations of individual units and common areas, you can position the asset to command premium market rental rates, offering flexibility for short-term and long-term tenancy arrangements. Participation in programs like the Section 8 Housing initiative through entities such as HACLA or PATH further enhances the property's appeal. Strategically located in the vibrant Boyle Heights neighborhood, just west of downtown Los Angeles, 2221 Michigan Ave benefits from its central location. The area boasts a dense population and a strong working-class community. Residents enjoy convenient access to amenities such as MacArthur Park, popular taco trucks, and efficient public transportation options, including bus and metro lines. Major employers such as Kaiser Permanente, Bank of America, and the Los Angeles County Department of Public Health are nearby. This property represents an exceptional investment opportunity in a dynamic and rapidly evolving neighborhood, offering immediate rental income potential and long-term value appreciation. **Buyer to verify Bed/Bath count and unit type. * 2221 Michigan Ave. can be purchased with 323 N Soto St & 1818 N. Broadway as a portfolio.
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Last updated Mar 9, 2024
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MLS# 24364103 —
Walk Score®
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Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/1/24
Mar 1, 2024
|
Relisted | CRMLS_CA | $4,300,000 | |
|
4/2/20
Apr 2, 2020
|
Pending | CRMLS_CA |