2202 Michigan Avenue, Los Angeles, CA 90033
  • MLS#: CV24219877 ( Apartment )
  • Street Address: 2202 Michigan Avenue
  • Viewed: 2
  • Price: $7,650,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1985
  • Bldg sqft: 0
  • Days On Market: 25
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90033
  • Provided by: CB RICHARD ELLIS
  • Contact: ERIC ERIC
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We are proud to present an exceptional opportunity to acquire a well maintained, 28 unit apartment complex at 2202 Michigan Avenue. This 22,154 SF building sits on a 22,386 SF lot and is situated between N Chicago Street and N Soto Street on Michigan Avenue. This vibrant location positions your investment at the heart of it all. Residents enjoy convenient access to Downtown Los Angeles, the L.A. Live entertainment complex, USC Health Sciences Campus, Dodger Stadium, and much more. Major freeways (10, 5, 60, and 101) are minutes away, along with a vibrant mix of shopping centers, restaurants, museums, and retailers. The property also sits one block away from highly amenitized retail corridors on Ceasar Chavez Boulevard and Soto Street. This prime location isnt just about convenience; its about capitalizing on a booming market. Los Angeles, the entertainment capital, experiences high demand for quality rentals. The property sits amidst a thriving working class with a steady need for well maintained housing and easy access to major employers. 2202 Michigan Avenue offers the perfect blend of value and income potential. This well maintained property features desirable amenities like lush landscaping, controlled entry gate, on site parking, laundry facilities, pet friendly dog run, and BBQ communal area. Individual units boast security doors, kitchens with dishwashers and stainless steel appliances, air conditioning, ceiling fans, and vertical blinds. With low vacancy rates and consistent rental income, 2202 Michigan Avenue is a secure long term investment ideal for any investor seeking a strong return. This opportunity caters to a wide range first time purchasers, seasoned investors, and those seeking a 1031 exchange providing a win win scenario.
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Features
Building Area Total
  1. 22154.00
Carport Spaces
  1. 28.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Days On Market
  1. 90
Electric Expense
  1. 0.00
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 18200.00
Laundry Features
  1. Common Area
Laundry Income
  1. 15861.00
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. 26-30 Units/Acre
Netoperatingincome
  1. 426514.00
Newtaxesexpense
  1. 95018.00
Otherexpense
  1. 5600.00
Otherexpensedescription
  1. Reserves
Otherincome1
  1. 10202.00
Otherincome2
  1. 28078.00
Parcel Number
  1. 5183005051
Pool Features
  1. None
Professionalmanagementexpense
  1. 31407.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 425864912:CRM
Tenant Pays
  1. See Remarks
Totalactualrent
  1. 640869.00
Totalexpenses
  1. 220401.00
Trash Expense
  1. 25288.00
Vacancyallowance
  1. 20008
Water Sewer Expense
  1. 25287.00
Water Source
  1. Public
Year Built
  1. 1985
Year Built Source
  1. Assessor
Zoning
  1. LARD1.5