2221 Michigan Ave, Los Angeles, CA 90033

28 UNITS DELIVERED VACANT!
2221 Michigan Ave presents an exceptional opportunity for investors in the heart of Boyle Heights. This well-maintained two-story apartment building, constructed in 1929, encompasses 9,229 square feet and comprises 32 units on a 6,053-square-foot lot.
The unit mix consists of (24) Bachelors, (6) Studios, and (2) one bedroom + one bathroom units, catering to a diverse range of tenants.
With 28 vacancies currently available, you can seize the opportunity to implement a value-add strategy and elevate the property to its full potential. By undertaking targeted renovations of individual units and common areas, you can position the asset to command premium market rental rates, offering flexibility for short-term and long-term tenancy arrangements. Participation in programs like the Section 8 Housing initiative through entities such as HACLA or PATH further enhances the property's appeal.
Strategically located in the vibrant Boyle Heights neighborhood, just west of downtown Los Angeles, 2221 Michigan Ave benefits from its central location. The area boasts a dense population and a strong working-class community. Residents enjoy convenient access to amenities such as MacArthur Park, popular taco trucks, and efficient public transportation options, including bus and metro lines.
Major employers such as Kaiser Permanente, Bank of America, and the Los Angeles County Department of Public Health are nearby.
This property represents an exceptional investment opportunity in a dynamic and rapidly evolving neighborhood, offering immediate rental income potential and long-term value appreciation.
* 2221 Michigan Ave. can be purchased with 323 N Soto St & 1818 N. Broadway as a portfolio.
Agent Remarks : Sale is subject to court confirmation and possible overbid. Call listing agents for details - 818.970.0915. ALL offers must be Submitted on C.A.R RIPA with POF. . The property is to be sold "AS IS" "WHERE IS" condition with all faults known and unknown with absolutely no representations or warranties expressed or implied by Seller or Sellers Agents to Buyer. Buyer to verify with appropriate entities and satisfy self. Buyer to verify all information provided, including permits & uses, bed/bath counts, SQFT, and accuracy of all info provided. Agents make no representations.