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1016 W 24th
Courtesy of Luxury Collective
$1,800,000

1016 W 24th

6,000 Sq.Ft. 7,225 Sq.Ft.

Description

RARE INVESTMENT OPPORTUNITY - UNIVERSITY PARK (HISTORIC DISTRICT) ???

Introducing a 14-unit multifamily building located in the highly desirable University Park area, a recognized historic district known for its character, architectural significance, and long-term stability. This is a major value-add project offering a rare opportunity for seasoned investors and developers to acquire and reposition a sizable asset in one of the area's most sought-after neighborhoods.

The property requires a full rehabilitation, allowing a new owner to redesign, upgrade, and strategically reposition the building to meet today's rental demand. This is a large-scale project, ideal for investors looking to maximize returns through a comprehensive renovation. A key advantage: all reports are already completed and available, providing transparency and a smoother path

University Park continues to experience strong appreciation and rising rental demand, driven by its historic designation, proximity to major universities, downtown, transit corridors, and ongoing revitalization efforts. Fully renovated multifamily properties in this area command premium rents and show consistent long-term value growth. Once rehabbed, this asset has the potential to become a high-performing income property with both immediate cash flow and significant equity upside.

Historic multifamily assets in central, high-demand locations are becoming increasingly scarce. Investors who successfully execute projects like this often see substantial increases in property value, long-term rent stability, and strong resale potential. This is the type of opportunity that creates generational wealth

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Location

1016 W 24th, Los Angeles, CA 90007

Status

Pending

Features & Amenities

Interior
Laundry room Common Area
Area & Lot
Total area 6,000 Sq.Ft.
Lot Area 7,225 Sq.Ft.
Living area 6,000 Sq.Ft.
MLS® ID SR26020163
Year Built 1964
Type Commercial
Status Pending
Exterior
Stories 3
Water Source See Remarks
Lot Features 0-1 Unit/Acre
Finance
Sales Price $1,800,000
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Thank you for your interest in 1016 W 24th, Los Angeles, CA 90007. We are reviewing your request and will be in touch shortly!

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