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Presenting a seven-unit bungalow-style multifamily investment opportunity in the Westlake/MacArthur Park neighborhood of Los Angeles. Built in 1923, the property features seven individual bungalow structures totaling approximately 3,450 square feet on an approximately 6,789-square-foot LAR4-zoned lot. The property offers a unit mix of five one-bedroom/one-bath units and two two-bedroom/one-bath units. Improvements include a new Siemens main electrical panel and subpanels, individual water heaters for each unit, and separate gas and electric meters. Select units feature upgraded modern interiors, providing a foundation for additional improvements and a value-add investment strategy. Investors have the opportunity to pursue targeted interior renovations, exterior enhancements, and operational improvements, with approximately 17.7% potential rental upside based on current underwriting. The LAR4 zoning may also provide future redevelopment opportunities, subject to applicable City of Los Angeles regulations, development standards, and approvals. Situated near Olympic Boulevard and Hoover Street, the property offers convenient connections to Downtown Los Angeles, Koreatown, Pico-Union, and surrounding employment and entertainment destinations. Nearby amenities include MacArthur Park, Metro rail service, neighborhood retail, restaurants, and major transportation corridors. With its distinctive bungalow configuration, existing income stream, and potential for additional value creation, the property presents an opportunity to acquire a multifamily asset in a centrally located Los Angeles rental market.
Property Type(s):
Residential Income
| Last Updated | 11/10/2026 | Year Built | 1923 |
|---|---|---|---|
| Community | C42 - Downtown L.A. | County | Los Angeles |
Additional Details
| AREA | C42 - Downtown L.A. |
|---|---|
| LOT | 6791 sq ft |
| LOT DESCRIPTION | Rectangular Lot |
| LOT DIMENSIONS | 6789 |
| PARKING | On Street |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
Location
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Listed with Equity Union
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 2026.
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