Welcome to the heart of Pico-Union. A distinctive, Los Angeles neighborhood nestled between the ever-growing Downtown market and the youthful Koreatown suburb. 1520 Menlo Ave is a Bungalow style 10-unit apartment building that consists of ten (10) one-bedroom one-bathroom units. This five-building, privately gated apartment was built in 1924 and meticulously upgraded in 2020 to shine a light on the properties original character and current charm. A new owner will benefit greatly from this clean apartment building. Not only has the current owner upgraded the entire common area of the property, four of the ten units have received upgrades, providing a road map for the next owner to add-value and achieve the upside potential inherent in the property. The property features well-manicured landscaping and a fantastic location to nearby hotspots. This area is the premier location for long-term rental growth assets. The Pico-Union area has become the epicenter for families and professionals in Los Angeles in a long-term blue-collar market. Investors are flocking to Pico-Union as average rents are pushing $2,000/month for a one-bedroom and as population growth is projected as steady increases for years to come, this is a seize the moment opportunity for any strong investor looking to secure property in one of LAs best submarkets. Its prime location and abundant local hot spots being but a brief walk away, all residents and working professionals obtain quick commute times in a city plagued with standstill traffic- making an abundance of renters readily available.
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