5274 Ithaca Ave
Multifamily | 9 Units | $194,444/unit
Marketing description
Introducing 5274 Ithaca Ave, Los Angeles, CA—a prime nine-unit multifamily investment opportunity nestled in the vibrant El Sereno neighborhood, just northeast of Downtown LA and adjacent to the San Gabriel Valley. Built in 1963, this property consists of three separate structures on an expansive lot with alley access and enclosed garages, catering to modern tenant demands for privacy and convenience. Each of the nine units is individually metered for utilities, enhancing operational efficiency and lowering shared costs.
The property offers a diverse unit mix, including four two-bedroom, one-bath units; four one-bedroom, one-bath units; and one three-bedroom, one-bath unit, catering to a broad range of renters and ensuring high demand. Located near major freeways and public transportation, 5274 Ithaca Ave provides tenants with easy access to work and leisure destinations across Los Angeles. The surrounding El Sereno area is renowned for its growing arts scene, popular local eateries, and a family-friendly atmosphere, making it a sought-after rental location. With an impressive 89% occupancy and a favorable LARD1.5 zoning, this property combines strong current income with long-term appreciation potential, appealing to investors seeking stability and growth in a well-connected LA neighborhood.
Investment highlights
Location: 5274 Ithaca Ave, Los Angeles, CA, in the thriving El Sereno neighborhood, northeast of Downtown LA
Property Type: Nine-unit multifamily apartment complex across three structures
Year Built: 1963, featuring durable construction with tenant-focused amenities
Unit Mix:
4 x 2 Bedroom / 1 Bath units
4 x 1 Bedroom / 1 Bath units
1 x 3 Bedroom / 1 Bath unit
Building and Lot Size:
Rentable Building Area: 5,439 sq. ft.
Lot Area: 9,601 sq. ft.
Parking: Enclosed garages and alley access, providing added convenience and security for tenants
Utilities: Separately metered units for efficient utility management and cost control
Zoning: LARD1.5, allowing for residential flexibility in a popular rental market
Occupancy: Currently 89% occupied, highlighting high demand in the area
Investment Appeal: Strong tenant demand, stable income flow, and long-term appreciation potential in a well-established neighborhood experiencing revitalization
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