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We are pleased to present Avenue 40 Apartments located at 206 E. Avenue 40 in Los Angeles. The property is located on a quiet residential street nestled between Cypress Park and Highland Park. The charming seven unit complex was originally constructed in 1921 and had a major renovation in 2011. Significant upgrades were completed to the plumbing and electrical systems. New roofs were installed on three of the bungalows. Further, 206, 206 , and 208 have had major remodels since that time when the units became vacant. Total capex exceeds $150,000. The 2,864 SF property is comprised of six x studio/one bath, and one x one bedroom/one bath detached bungalows. There are individual tankless water heaters and the property is separately metered and ownership only pays for water and sewer. The property is subject to city of Los Angeles Rental Stabilization Ordinance. Highland Park has enjoyed a renaissance over the last decade as a hip place to live. New restaurants and shopping have created a local economic engine, driving up property values and rents. The property is ideally situated to take advantage of the local burgeoning economy, and also has easy access to I-110 and I-5. Further, Metro's Heritage Square A Line station is less than a 10 minute walk from the property. The offering is an ideal opportunity for an investor to take advantage of a turnkey bungalow property. Priced at a 6.54% CAP upon acquisition, and major capital expenditures completed, this is an excellent low maintenance opportunity with approximately 40% rental upside.
Property Type(s):
Residential Income
| Last Updated | 3/9/2026 | Year Built | 1921 |
|---|---|---|---|
| Community | 677 - Lincoln Hts | County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Oven, Refrigerator |
| AREA | 677 - Lincoln Hts |
| LOT | 7501 sq ft |
| LOT DIMENSIONS | 7500 |
| PARKING | Driveway |
| POOL DESCRIPTION | None |
| SEWER | Other |
| STORIES | 1 |
| STYLE | Bungalow |
Location
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Listed with Robert Leveen
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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