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245 E Avenue 38 is a well-maintained, 11-unit multifamily property in the evolving North East LA submarket. Built in 1971, the two-story complex spans 13,622 square feet on a 0.53-acre lot, offering a unique combination of stable income and future development potential. The property features a large parking lot with 30 spaces, an increasingly rare asset in Los Angeles, which could be leveraged for additional units or amenities. With its proximity to Highland Park, Cypress Park, and major transportation hubs, the property is ideally positioned to benefit from strong rental demand. All units are currently leased to long-term tenants, providing an investor with reliable cash flow. Additionally, the enclosed front and rear patios in each unit create a desirable living experience, supporting tenant retention and long-term value. This investment offers a combination of immediate income stability and future upside, making it a compelling opportunity in one of LA's most dynamic residential markets.
Property Type(s):
Residential Income
| Last Updated | 2/21/2025 | Tract | Other |
|---|---|---|---|
| Year Built | 1971 | Community | Eagle Rock |
| County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Eagle Rock |
| GARAGE | Gated, On Site |
| HOA DUES | 0 |
| LOT | 0.51 acre(s) |
| LOT DESCRIPTION | Sprinklers None |
| PARKING | Gated,On Site |
| POOL DESCRIPTION | None |
| SUBDIVISION | Other |
| VIEW DESCRIPTION | None |
Location
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Listed with Katherine Vargas
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.
This IDX solution is (c) Diverse Solutions 2025.
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