1612 Pennsylvania Avenue

Los Angeles CA 90033

7486 sq. ft.

Multi-Family

Last sold for $1,160,000

Kristopher German, last sold this property on 20 October 2026 after 74 days on market.

Overview

Just Listed! Outstanding value-add opportunity to acquire a 4-unit multi-family property in Boyle Heights, offering a rare combination of immediate vacancy and strong day-one cash returns. The property is currently operating at a 6.28% CAP Rate and 11.57 GRM, with three of the four units to be delivered vacant, allowing investors to lease at current market rents from the outset and maximize thier cash flow. Built in the 1970s, the property features a highly desirable and diverse unit mix consisting of a detached single-story 2-Bedroom/1-Bath cottage, one 2-Bedroom/2-Bath unit with a den, and two 2-Bedroom/1-Bath units, totaling approximately 3,385 rentable square feet on a 7,486 sq. ft. lot. Residents enjoy the privacy of a gated entry along with onsite garage parking, while ownership benefits from an efficient operating structure with tenants paying ALL utilities, including electricity, gas, trash and water! Adding to the property's long-term value is the potential to convert the standalone garage into an ADU (buyer to verify), creating an additional opportunity to increase future income. Conveniently located near the I-10, I-5, and 101 Freeways, the property offers excellent access to Downtown Los Angeles, major employment centers, shopping, dining, and public transportation. With three vacant units, excellent cash-on-cash return potential once leased at market rents, and additional ADU upside, this is a compelling opportunity for investors seeking immediate value creation in one of Los Angeles' strongest rental markets.

Features

8 bedrooms

5 bathrooms

7486 sq. ft. lot size

Multi-Family

Estimated Value

We need at least 3 similar 8 bedroom multi families sold in Los Angeles over the last 12 months.

Property history for 1612 Pennsylvania Avenue

2026

Sold

$1,160,000

20 Oct 2026 by Kristopher German, of RE/MAX 2000 REALTY

Happy sellers in Los Angeles

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Local market activity for 8 bedroom multi families in Los Angeles

In the last 12 months, 2 eight-bedroom multi families similar to 1612 Pennsylvania Avenue, have been sold.

Sold

For Sale

Interested in selling?

People are reaching out to these agents in Los Angeles for a market analysis.

Sophia De La Vara

at Keller Williams Whittier

(111 reviews)

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Karen Carlson

at First Team Real Estate

(9 reviews)

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Maria Moreno

at Sanco Investments Inv.

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ARMAND MARTINEZ

at Century 21 Masters

(8 reviews)

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Sophia De La Vara

Sellers who recommend Sophia De La Vara have praised them for being local expert, clear communication, responsive, supportive, patient, dedicated, and great negotiation