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$ 1,820,000
Est. payment | /mo
9 Beds
9 Baths
8,930 Sqft Lot
$ 1,820,000
Est. payment | /mo
9 Beds
9 Baths
8,930 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26241181
Bedrooms 9
Lot Size 8,930 Sqft
Lot Dimensions 50 x 180
Property Sub-Type Res Income 2-4 Units
Property Description
USC-Area 2-Unit Property - 1905 Front House + 2018 ADU, 7.83% Current Cap Rate, 5-Minute Walk to USC. 2340 Portland Street presents a 2-unit, 9-bedroom investment opportunity located a short 5-minute walk to the USC campus. The property consists of a classic 1905 two-story front house configured as a 6 bed/6 bath and a 2018-built 3 bed/3 bath ADU, totaling approx. 3,738 SF on a large 8,930 SF lot. The front house features a fireplace, wood-style flooring, and an updated kitchen, and the ADU offers a modern kitchen with stainless steel appliances. Both units are currently leased, providing in-place income. Offered at $1,820,000, $910,000 per unit and $487 per square foot, at a 7.83% current cap rate and 9.21 GRM. Current rents total $16,464/month ($197,568/year). As a 2-unit property, it may qualify for residential financing. Located within USC's DPS patrol zone and free Lyft ride zone, with easy access to Downtown LA, the 10 Freeway, the LA Convention Center, Exposition Park, the LA Memorial Coliseum, and the new Lucas Museum of Narrative Art, with the area set to host major events for the 2028 Olympic Games.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Approx. 5-minute walk north of USC campus
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5124012018
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Daniel Lewin, DRE#01932742 Younglewin Advisors, Inc.
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