2715 & 2723 San Marino Street is a rare two building portfolio sale located in the highly coveted and emerging sub-market of Macarthur Park, Los Angeles. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add opportunity with significant rental upside potential. The apartment buildings stand on two adjacent lots with separate APN’s and total 30 units. The buildings were constructed in 1923 and 1950 totaling 16,804± building square feet on a combined lot size of 19,866 ± square feet. Zoning is currently LAR4, and the buildings are located in a Transit Oriented Community (TOC), Tier 2 which may allow for a larger redevelopment or the addition of multiple ADU units. Buyer to verify. These extremely spacious units at San Marino average 560± square feet. The units are comprised of: (4) Jr. 1 Bedroom + 1 Bath, (24) 1 Bedroom + 1 Bath, (2) 2 Bedroom + 1 Bath units. Common area amenities include controlled access, security camera monitoring system, gated covered parking, existing space to install on-site laundry and a central-courtyard. Unit amenities include select units with air conditioning, stove, plenty of closet space. Several units have been upgraded with new flooring and counter tops. Aesthetically, the property grounds and building are well maintained. MacArthur Park is located just minutes outside of Downtown L.A.’s employment hub in a bustling neighborhood with a diverse demographic. From working professionals, entrepreneurs, artists to blue-collar workers; the Macarthur Park neighborhood is a centrally located sub-market of Los Angeles and is adjacent to other notable neighborhoods including Downtown Los Angeles, Koreatown, Pico Union and a short drive to USC Village. The rental market is dense with endless streets lined with small businesses. MacArthur Park is designated Cultural Monument #100 in the City of Los Angeles and near Westlake, adjacent to the Metro’s Westlake/MacArthur Park Station. This provides convenient access to the Red and Purple Lines. Those lines provide public transportation toward Downtown, North Hollywood and toward Koreatown, with West Side extensions projected to be completed in 2027. Amidi Group, a San Francisco-based developer, is 50% complete with their $180 million 1027 Wilshire development.
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