Active

1406 2nd Avenue

Los Angeles, CA 90019

$1,887,777 $7,958/Mo

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Overview

Bed

Bath

4,888

Sqft

7,504

Sqft(Lot)

Description

This exceptional property delivers everything today's savvy investor demands: proven income, turnkey condition, significant upside, and an irreplaceable location that continues to attract quality, long-term tenants year after year. What immediately sets this property apart is its extraordinary unit size. Each of the four generously proportioned 2-bedroom, 1-bath residences spans approximately 1,230 square feet nearly 25% larger than the Koreatown market average offering expansive living and dining areas that tenants simply cannot find elsewhere at this price point. Inside each home you'll discover the kind of amenities that drive tenant loyalty and command premium rents: in-unit washer and dryer, modern finishes in three beautifully renovated units featuring rich laminated hardwood floor ing and sleek granite countertops, and two side-by-side parking spaces per unit an increasingly scarce and coveted amenity in one of LA's most densely populated neighborhoods. The seller has been a thoughtful steward of this asset, completing significant capital improvements that dramatically reduce future expense exposure and position the new owner for years of worry-free ownership. A full plumbing replacement was completed in 2018, brand new water heaters were installed in 2024, and the building is protected by a durable silicone-coated roof. These are not deferred maintenance items they are completed projects that represent real dollars saved and real peace of mind delivered. Operational efficiencies further enhance the investment thesis. Separate water meters allow tenants in three units to pay their own water bills, directly improving net operating income and reducing the owner's ongoing utility exposure. Eight generously sized on-site parking spaces two per unit serve as both a powerful tenant retention tool and a potential additional revenue source in a neighborhood where parking is worth its weight in gold. For the 1031 Exchange buyer, this property is an ideal replacement asset: ready to close, immediately income- producing, requiring no additional capital investment, and positioned in a market with enduring long-term appreciation fundamentals. Of particular note one unit is anticipated to become vacant at the end of August, presenting an immediate opportunity for the new owner to lease at full market rate of $2,850 per month and accelerate the property's income trajectory from the moment of acquisition. For the portfolio investor, it represents a rare opportunity to acquire a proven, performing asset with a clear and measurable path to enhanced returns. For anyone seeking stable, passive income backed by real assets in one of America's great cities this is the one. 1406 2nd Avenue is not a promise. It is a track record. The income is real. The improvements are done. The upside is clear. All offers will be reviewed.

Property Details

Property Type : Residential Income

Price : $1,887,777

AD Id : 79435259

MLS Id : 26839121

Beds : 8

Lot Size : 7,504 Sqft

Living Area Size : 4,888

Year Built : 1924

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 8

Bathroom Information

Total Baths: 5 Full Baths: 0 Half Baths: 0

Water/Sewer

Sewer: Other
Interior Features

Interior Features: Ceiling Fan(s) Property Appliances: Microwave,Oven,Refrigerator,Dryer,Washer Fireplace: Dining Room,Living Room,Outside
Heating Source

Wall Furnace Has Heating

Fireplace

Fireplace Features: Dining Room,Living Room,Outside Has Fireplace: 1

Building Information

Year Built: 1924 Building Area Total: 4,888
Laundry Features

Inside

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1723
Lot Size Source: Vendor Enhanced Lot Size Square Feet: 7504

Listing Price Information

Original List Price: 1,887,777 Listing Contract Date: 2026-05-26
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 5072037011

Garage and Parking

Garage Description: Assigned,Side By Side,Uncovered

Homeowners Association
Rental Info

Lease Term: Negotiable Tenant Pays: Grounds Care,Insurance

Other Property Info

Source Listing Status: Active Source Neighborhood: C16 - Mid Los Angeles Postal Code Plus 4: 4512 Directions: East of Arlington Ave. & South of Pico Blvd. Zoning: LARD1.5 Source Property Type: Residential Income Area: C16 - Mid Los Angeles
Building and Construction

Property Age: 102 Property Condition: Updated/Remodeled Year Built Source: Vendor Enhanced Total Square Feet Living: 4888 Levels or Stories: Two Building Total Stories: 2

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1117 S Manhattan Place, Los Angeles, CA, 90019	$1,399,000	4	2	1,807	1,807 SqFt
1044 S St Andrews Place, Los Angeles, CA, 90019	$1,490,000	5	3	2,133	2,133 SqFt
1254 S Manhattan, Los Angeles, CA, 90019	$1,790,000	6	3	3,024	3,024 SqFt
941 S Gramercy Place, Los Angeles, CA, 90019	$2,695,000	12	--	7,360	7,360 SqFt
1415 S Manhattan Place, Los Angeles, CA, 90019	$2,280,000	9	5	7,512	7,512 SqFt
1415 S St Andrews Place, Los Angeles, CA, 90019	$2,799,000	12	--	9,268	9,268 SqFt
1070 S Wilton Place, Los Angeles, CA, 90019	$2,300,000	4	2	3,190	3,190 SqFt
1023 S Wilton Place, Los Angeles, CA, 90019	$1,425,000	7	7	2,660	2,660 SqFt
1220 S Wilton Place, Los Angeles, CA, 90019	$1,765,000	4	1	3,382	3,382 SqFt
1224 S Wilton Place, Los Angeles, CA, 90019	$1,675,000	6	5	4,560	4,560 SqFt

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ByOwner last updated this listing 06/12/2026 @ 02:41

MLS: 26839121 LISTED BY: Herbert L McGurk, Coldwell Banker Realty 310-777-6200 SOURCE: CRMLS