Share this with your friends
(833) HOME-661
Home661
2340 Portland Street, Los Angeles, CA 90007
- $1,820,000
- List Price
- $1,820,000
- Status
- ACTIVE
- MLS#
- PW26241181
- Year Built
- 1905
- Lot Size
- 8,930
- Acres
- 0.21
- Lot Location
- Level, Rectangular Lot
- Days on Market
- 6
- Property Type
- Multifamily
- Style
- Craftsman
- Property Sub Type
- Duplex
- Stories
- Two Levels
Property Description
USC-Area 2-Unit Property - 1905 Front House + 2018 ADU, 8.03% Current Cap Rate, 5-Minute Walk to USC. 2340 Portland Street presents a 2-unit, 9-bedroom investment opportunity located a short 5-minute walk to the USC campus. The property consists of a classic 1905 two-story front house configured as a 6 bed/6 bath and a 2018-built 3 bed/3 bath ADU, totaling approx. 3,738 SF on a large 8,930 SF lot. The front house features a fireplace, wood-style flooring, and an updated kitchen, and the ADU offers a modern kitchen with stainless steel appliances. Both units are currently leased, providing in-place income. Offered at $1,820,000, $910,000 per unit and $487 per square foot, at an 8.03% current cap rate and 9.21 GRM. Current rents total $16,464/month ($197,568/year). As a 2-unit property, it may qualify for residential financing. Located within USC's DPS patrol zone and free Lyft ride zone, with easy access to Downtown LA, the 10 Freeway, the LA Convention Center, Exposition Park, the LA Memorial Coliseum, and the new Lucas Museum of Narrative Art, with the area set to host major events for the 2028 Olympic Games.
Additional Information
- Appliances
- Dishwasher, Gas Range, Microwave, Refrigerator
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 2
- Gross Scheduled Income
- $197,568
- Operating Expense
- 45432
Listing courtesy of Listing Agent: Daniel Lewin (dan@younglewin.com) from Listing Office: Younglewin Advisors, Inc..
How much is your home worth?
...get instant property value now!
Mortgage Calculator
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.