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2218 Eastlake AVE Los Angeles, CA 90031
14 Beds
6 Baths
5,495 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,495 sqft
Price per Sqft $181
MLS Listing ID 25540729
Bedrooms 14
HOA Y/N No
Year Built 1938
Lot Size 9,892 Sqft
Property Description
Marcus & Millichap presents 2218 Eastlake Avenue, a six-unit multifamily investment opportunity located in the heart of Lincoln Heights, one of Los Angeles' most historic and rapidly evolving neighborhoods. With 5,495 square-feet of livable space spanning a 9,893-square-foot lot, the property features an ideal unit mix of four (4) two-bedroom and two (2) three-bedroom units. With current rents offering approximately 41% upside potential, investors have a compelling opportunity to significantly increase cash flow as units turn over. Additionally, a structure located along the alley currently used for storage presents the potential for conversion to one or more Accessory Dwelling Units (ADUs), creating an opportunity for immediate value-add and increased rental income. Situated near the USC Health Sciences Campus, 2218 Eastlake Avenue is strategically positioned between two transformative mixed-use developments, benefiting from the ongoing revitalization of Lincoln Heights. To the south, The Brine at 3016 N. Main Street offers 97 affordable and permanent supportive housing units, along with 28,000 square feet of ground-floor commercial space designed to serve the local community. To the north, Avenue 34 at 141 N. Avenue 34 is a five-acre, transit-oriented development featuring 468 residential units - 66 of which are designated as very low-income and 16,000 square feet of retail space, all within walking distance of the Metro A Line's Heritage Square Station. With its prime location, significant rental upside, and proximity to major developments, 2218 Eastlake Avenue presents a rare opportunity to invest in a neighborhood poised for substantial growth and long-term value appreciation.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Zoning LARD3
Interior
Heating None
Fireplace No
Appliance Disposal, Refrigerator, Washer
Exterior
Parking Features Covered, Uncovered
Garage Spaces 5.0
Garage Description 5.0
Pool None
Attached Garage No
Total Parking Spaces 10
Private Pool No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5210030019
Special Listing Condition Standard
Listed by Sevak Keshishian • Marcus & Millichap