Downtown L.A. (C42) Homes with Two Levels Stories

Welcome to Downtown Los Angeles (C42), a vibrant and dynamic urban hub that perfectly blends the excitement of city life with the charm of historic architecture. Nestled in the heart of Los Angeles County, this iconic region is known for its eclectic mix of culture, art, and entertainment, making it one of the most sought-after neighborhoods in California.

Downtown L.A. boasts an array of attractions, from the stunning Walt Disney Concert Hall to the bustling Grand Central Market, where you can savor a diverse selection of culinary delights. The area is also home to a thriving arts scene, with galleries, theaters, and street art that reflect the city’s creative spirit. With easy access to public transportation and major freeways, residents enjoy unparalleled connectivity to the rest of Los Angeles and beyond.

When it comes to housing, Downtown L.A. offers a unique selection of homes that cater to various lifestyles. Among these are charming two-level stories that provide both space and versatility. These multi-story residences often feature open floor plans, allowing for seamless transitions between living, dining, and entertaining spaces. Many of these homes come with modern amenities, private balconies, and stunning views of the city skyline, making them perfect for anyone looking to immerse themselves in the urban experience while enjoying the comforts of home.

Whether you’re a young professional, a growing family, or someone seeking a vibrant community, Downtown L.A. has something for everyone. Explore the possibilities of two-level living in this exciting neighborhood, where every day brings new adventures and opportunities. Your dream home awaits in the heart of Los Angeles!

Newest Downtown L.A. (C42) Homes with Two Levels Stories

$749,000

4 Beds ⋅ 3 Baths ⋅ 26866291 MLS ⋅ Active Status

986 East 51st is a charming Craftsman-influenced California bungalow duplex in South LA, offered at $749,000 with one unit delivered vacant. Built in 1912, the property totals approx. 1,937 SF and is comprised of a downstairs 3-bdrm./2-bath residence and a separate upstairs 1-bdrm./1-bath unit. The property has the warmth and scale of an early LA bungalow, with a covered front porch, gabled roofline, wood-sided exterior, mature landscaping, and a residential feel that gives it more character than a typical duplex. The downstairs 3-bdrm./2-bath unit has been updated with wood-style flooring, kitchen cabinetry, granite countertops, tile flooring in the kitchen, updated bathroom fixtures, and central A/C. The upstairs 1-bdrm. unit has also been updated and is vacant, giving a buyer the ability to move in, lease it at market rent, or decide how they want the property to work for them from day one. A rear carport, on-site parking area, and private yard space add everyday functionality for tenants or an owner-user. Located near Central Ave, Avalon Blvd, Vernon Ave, and the 110 Freeway, 986 East 51st Street sits within a South Los Angeles neighborhood setting with access to local retail, transit corridors, and major city anchors. The property is also approx. 3 miles east of USC, Exposition Park, USC Village, BMO Stadium, the LA Memorial Coliseum, The Shrine Auditorium, and nearby museums and public spaces. 986 East 51st Street offers a character-rich duplex with immediate flexibility, giving buyers a practical entry point into real estate ownership and long-term portfolio building.

986 E 51st Street, Los Angeles

$900,000

8 Beds ⋅ 3 Baths ⋅ 26864727 MLS ⋅ Active Status

Don't miss out on this incredible opportunity to own two units in a great location. Best of all, these units will be delivered VACANT. This property consists of two units. The front unit is used as a 4 bedroom home plus den. It is a two story home. The rear house is separate and consists of a 2 bedroom, 1 bath home. Plenty of parking make this a great option. Located close to USC, the Coliseum, Downtown LA, it has easy freeway access (110 and 10). It also is close to metro and bus transportation. Solar panels are included and FULLY PAID. There may also be possibility to develop this property (buyer to verify). It does need a little TLC, but with a little TLC, this property will SHINE. Property records state a total of 8 bedrooms for both. Buyer to verify. Buyer to cooperate in seller's 1031 tax exchange at no cost to buyer.

892 E Martin Luther King Jr Boulevard, Los Angeles

$1,499,000

4 Beds ⋅ 2 Baths ⋅ P1-28200 MLS ⋅ Active Status

Originally designed as an open loft, this residence has been thoughtfully transformed into four distinct rooms with sleek sliding doors, blending architectural character with functional privacy. The redesign preserves the expansive volume and modern aesthetic of a true loft while creating defined spaces ideal for bedrooms, a home office, guest quarters, or a media room -- a rare configuration in this setting. The sliding door system allows for flexibility and flow, offering openness when desired and separation for comfort and quiet when needed. This presents a unique opportunity for a family to enjoy modern loft living in the heart of the city -- without sacrificing enclosed bedrooms and everyday practicality. A resort-style rooftop crowns the building, featuring a heated pool and spa, cabanas, BBQ areas, fire pits, a fully equipped fitness center, and breathtaking 360-degree skyline views -- an elevated extension of sophisticated urban living. Gated garage parking and 24/7 on-site security provide convenience and peace of mind. Step outside to experience the best of the Arts District, including Bavel, Girl & the Goat, Manuela, Verve, Blue Bottle, Hauser & Wirth, SoHo Warehouse, and more. With effortless access to Metro, train stations, and major freeways, this prime location offers the perfect balance of vibrant city energy and everyday ease.

510 S Hewitt Street Unit 107, Los Angeles

$1,600,000

11 Beds ⋅ 11 Baths ⋅ 26863481 MLS ⋅ Active Status

We are pleased to present 2127 Portland Street, an 11-bed USC student housing asset located less than one mile from USC Village and within the USC Department of Public Safety patrol zone. The offering consists of two separate structures on a 6,152 square foot lot: a large-format 7 bedroom / 7 bathroom main house and a newer townhome-style 4 bedroom / 4 bathroom ADU at the rear. The main house was taken down to the studs and fully renovated with new mechanical, electrical, and plumbing systems behind a classic North University Park facade. The rear ADU is newer construction built to current code. A buyer acquires renovated and new-build product without new-construction pricing, and without the deferred maintenance that typically comes with a pre-war USC rental. Seven-bedroom floor plans are scarce in the USC submarket and draw stronger rents from fraternities, sororities, athletic teams, and returning friend groups that need a full house under one lease. The 4+4 ADU serves the opposite end of the demand curve: individual students, graduate students, and young professionals who want newer, private, apartment-style living. Ownership can lease the property one group at a time, by the bed, or both, and can adjust that strategy every leasing season without a capital event. At $1,600,000, the pricing equates to $145,455 per bed and $430.69 per square foot, meaningfully below replacement cost for comparable new student housing product. Current rents of $8,200 per month on the main house and $5,000 per month on the ADU, plus $1,100 per month in utility income, produce $171,600 of scheduled gross income and $112,103 of net operating income, reflecting a 7.01 CAP and a 9.32 GIM on in-place numbers. USC Village sits less than a mile away and anchors the neighborhood commercially. The $700 million development delivered a Target, a Trader Joe's, and roughly 15 restaurants across 115,000 square feet of ground-floor retail, alongside 2,700 student beds and a 30,000 square foot fitness center. Tenants walk to groceries, dining, banking, and pharmacy without a car. The Harbor Freeway (110) is minutes away with on-ramps at Adams Boulevard, and the Santa Monica Freeway (10) sits just north of the property. The Metro E Line's LATTC/Ortho and Jefferson/USC stations serve North University Park with trains every 8 to 10 minutes during the day, putting Downtown employment centers roughly three miles north within reach of graduate students, medical residents, and recent graduates. The main house is a legal single-family residence and can be repositioned as a conventional owner-user or luxury single-family rental at any point, with the ADU providing separate income or family housing, so ownership retains the option to exit into the single-family market rather than only the student housing market. Separately, under the One Big Beautiful Bill Act, which permanently restored full first-year expensing for qualifying assets acquired after January 19, 2025, a buyer can pair a cost segregation study with accelerated depreciation to immediately deduct the short-life components of both structures. Given the extent of the recent renovation and the newer rear structure, that allocation is likely to be substantial.

2127 Portland Street, Los Angeles

$750,000

6 Beds ⋅ 3 Baths ⋅ DW26160611 MLS ⋅ Active Status

Exceptional Duplex Opportunity in the Heart of Los Angeles! Whether you’re an owner-occupant or a multi-family, this versatile 6-bedroom, 3-bathroom duplex offers outstanding potential. Live in one unit while generating rental income from the other, or add a strong income-producing property to your investment portfolio.Ideally situated just minutes from Downtown Los Angeles, this property provides convenient access to major freeways, shopping, dining, schools, public transportation, and many of the city’s top employment and entertainment destinations. With strong demand for housing in this central location, this duplex presents an excellent opportunity for long-term ownership and investment.Don’t miss your chance to own a valuable piece of Los Angeles real estate with both lifestyle and income potential. Schedule your private showing today!

1223 E 46th, Los Angeles

$749,000

3 Beds ⋅ 1 Baths ⋅ 26861493 MLS ⋅ Active Status

A beautifully reimagined two-story residence tucked behind lush landscaping, this inviting home blends modern design with exceptional indoor-outdoor living. From the moment you arrive, the private, garden-like setting creates a welcoming retreat in the heart of Los Angeles.Inside, the bright open-concept floor plan is filled with natural light and features updated flooring, recessed lighting, dual-pane windows, and a stylish kitchen with custom cabinetry, updated countertops, stainless steel appliances, a butcher block island, and a walk-in pantry. Each bedroom features a walk-in closet, while a dedicated bonus office with additional storage offers the perfect space for working from home, hobbies, or everyday organization. Situated on an approximately 5,000 sq. ft. LAR2-zoned lot, the home's two-story design maximizes outdoor living space with a spacious backyard perfect for entertaining or relaxing. Additional highlights include a long driveway with parking for up to four vehicles, an EV charging outlet, reinforced foundation support, enhanced drainage, and solar security lighting. Conveniently located near Exposition Park, USC, public transportation, and major Los Angeles destinations, this home offers the perfect blend of privacy, comfort, and city convenience.

527 W 52nd Street, Los Angeles

$849,995

SB26146543 MLS ⋅ Active Status

Don't miss this rare opportunity to acquire a well-maintained, income-producing triplex in the heart of Los Angeles. Ideally situated just minutes from Downtown Los Angeles, the Arts District, and USC, this property offers investors a compelling combination of stable rental income, future appreciation, and value-add potential. The property features an attractive unit mix consisting of two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Each residence has been meticulously cared for, providing a solid foundation for long-term ownership. Situated on a generously sized lot with ample off-street parking, the property may offer the opportunity to add an additional unit at the rear of the lot (buyer to verify with the City of Los Angeles), creating even greater income potential. Tenants are responsible for their own gas and electricity, helping to minimize operating expenses and maximize cash flow. Properties of this caliber, in this location, and with this level of upside rarely come to market. Whether you're looking to expand your investment portfolio or complete a 1031 exchange, this is an opportunity you won't want to miss.

725 E 40th Place, Los Angeles

$1,895,250

SR26138305 MLS ⋅ Active Status

*** This exceptional five-unit multifamily property presents a rare value-add opportunity in the heart of rapidly evolving Exposition Park, one of Los Angeles’ most active rental markets e The property features an attractive and versatile unit mix consisting of one 2-bedroom, 1-bathroom unit, two expansive 5-bedroom, 2-bathroom units, one 4-bedroom, 2-bathroom unit, and one 3-bedroom, 1-bathroom unit. The large unit configurations and flexible layout create outstanding income potential for investors pursuing student housing, traditional multifamily rentals, or alternative housing strategies in a consistently highdemand location .Ideally situated 10 minutes walk distance to the University of Southern California, the property benefits from close proximity to some of Los Angeles’ most iconic destinations, including the Los Angeles Memorial Coliseum, a featured venue for the upcoming 2028 Olympic Games, the highly anticipated Lucas Museum of Narrative Art located less than half a mile away, only 10 minutes walk or 0.5 miles away ; Exposition Park, the California Science Center, the historic Rose Garden, BMO Stadium, and the Expo Line Metro Station offering convenient access from Downtown Los Angeles to Santa Monica .The property also provides easy access to major freeways and public transportation, further strengthening its long-term desirability and tenant demand .Adding to its exceptional appeal, the property is sitting in a 9,894 sq ft lot and it will be delivered almost vacant, offering investors a rare opportunity to immediately reposition the property, establish market rents, and maximize future income potential .This is an outstanding opportunity to acquire a well-located multifamily asset in one of Los Angeles’ most dynamic and transformative neighborhoods.

1134 W 39th, Los Angeles

$1,725,000

12 Beds ⋅ 6 Baths ⋅ 26860465 MLS ⋅ Active Status

4626 Wall St presents a high-yield, stabilized multifamily investment delivering strong in-place cash flow with meaningful long-term upside.The property is currently operating at approximately a 7.18% cap rate on existing income, offering investors immediate returns without the need for heavy repositioning.Situated on a 7,000 SF lot, the 5,522 SF asset consists of six 2-bedroom units, including four front-building units and two newly constructed ADUs. The unit mix is highly desirable and supports consistent tenant demand, while the newer ADUs command premium rents and reduce near-term capital expenditure.The property benefits from a stable rent roll, with no reliance on short-term or non-recurring income. The tenant base includes subsidized tenants, providing reliable collections and supporting steady, ongoing rent increases, further enhancing the durability and predictability of cash flow.Located in a rapidly evolving pocket of South Los Angeles, the asset is positioned to benefit from continued neighborhood improvement, rental growth, and long-term appreciation trends.

4626 Wall Street, Los Angeles

$549,900

4 Beds ⋅ 2 Baths ⋅ 26858725 MLS ⋅ Active Status

This property is now active in an online. All bids must be submitted during the auction period via the property's listing page. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval. Attention savvy investors! This 4-plex offers centrally located with convenient access to major highways and public transportation. A prime opportunity for savvy investor buyers looking to expand their portfolio. The property is sold as-is, fully occupied and sight-unseen with no interior access. Exact occupancy unknown. Drive by only. Do not disturb. Cash only. Exact bedroom/bathroom count unknown. Tax records indicate 6 units, functions with 4 units. Property is in REAP with the city and will not be delivered with clear title.

1421 Courtland Avenue, Los Angeles

$1,200,000

8 Beds ⋅ 4 Baths ⋅ PW26148827 MLS ⋅ Active Status

Exceptional investment opportunity in Los Angeles! This well-maintained four-unit income property offers immediate cash flow with all units currently tenant occupied, making it an ideal addition to any investment portfolio. The property features a rare combination of ample on-site parking, including a large parking pad as well as a separate fully paved bonus parking lot—providing valuable convenience for tenants and potential future flexibility. Situated on a generously sized lot, this multi-family property offers strong rental appeal in a high-demand location with easy access to shopping, dining, public transportation, major freeways, and local employment centers. Whether you're a seasoned investor looking to expand your portfolio or seeking a stable income-producing asset with long-term upside, this Los Angeles fourplex presents an outstanding opportunity to own a solid multi-unit property in one of Southern California's most sought-after rental markets.

1063 E 49th Place, Los Angeles

$1,200,000

PW26148828 MLS ⋅ Active Status

1063 E 49th Place, Los Angeles

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.