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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26241181
HOA Y/N No
Year Built 1905
Lot Size 8,929 Sqft
Lot Dimensions Assessor
Property Sub-Type Duplex
Property Description
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 a 7.83% 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.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type Living Room
Fireplace Yes
Appliance Dishwasher, Gas Range, Microwave, Refrigerator
Laundry Common Area
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Level, Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Craftsman
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5124012018
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Nearby Locations
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