2321 3rd Ave, Los Angeles, CA 90018

$1,625,000

An exceptional investment opportunity to acquire a turnkey seven-unit apartment community in the highly sought-after Historic West Adams Terrace neighborhood tucked away on a quiet cul-de-sac street . The property consists entirely of seven 2-bedroom, 1-bathroom units featuring desirable open-concept living and kitchen layouts. Ownership has invested over $100,000 in… Read More recent capital improvements. Major upgrades include a newly installed 400-amp electrical service with new feeder lines to the subpanels, completion of soft-story seismic retrofit, and California's SB721 balcony requirements through newly upgraded balconies and all new steel railings. 3 units will be purposely delivered vacant, providing investors with the rare opportunity to lease at current market rates and establish their own tenant profile from day one, while the remaining occupied units generate immediate cash flow. Additional amenities include ample on-site parking, providing convenience for residents in this highly desirable neighborhood. West Adams has emerged as one of Los Angeles' premier investment corridors, fueled by continued redevelopment, expanding employment centers, and growing demand from renters seeking a central location with authentic neighborhood character. Residents enjoy immediate access to Downtown Los Angeles, Culver City, USC, Mid-City, Koreatown, Baldwin Hills, Hollywood, the Westside, The surrounding neighborhood continues to attract new investment while preserving its historic charm. Residents are within minutes of acclaimed dining and lifestyle destinations including Tartine West Adams, Alta Adams, Farmhouse Thai, Johnny's West Adams, Truffle Brothers Spaccia Salumeria, Re/Creation Caf, Harold & Belle's, El Cholo Caf, and the Surfas Culinary District. The property also benefits from close proximity to major employment, educational, and cultural destinations including Downtown Los Angeles, Crypto.com Arena, the Los Angeles Convention Center, LACMA, the University of Southern California, and Los Angeles Trade-Technical College, all of which continue to support exceptional rental demand. Ideally positioned adjacent to the recently renovated Benny H. Potter Park and within a neighborhood poised for continued appreciation ahead of the 2028 Olympic Games, this offering represents a compelling opportunity for investors seeking a quality multifamily asset and strong long-term fundamentals in one of Los Angeles' most dynamic rental markets. Annual Gross Income takes into account that vacant units are rented at $2,400 each, which is a conservative number for 2 bed + 1 bath in this neighborhood. Read Less

Courtesy of Coldwell Banker Realty 310-777-6200

Listing Snapshot

Days Online

Last Updated

Jul 22, 2026

Property Type

Other

Beds

Square Ft.

4,178

Lot Size

0.15 Acres

Year Built

1958

MLS Number

26856303

30 Days Snapshot Of 90018

$1.21M

(avg) sold price

-100%

homes sold

(avg) days on market

Snapshot

Area Map

Additional Details

Appliances & Equipment

Garbage Disposal, Range/Oven, Refrigerator

Building

4,178 sq ft, Built in 1958, Levels: One Level, Contemporary

Cooling

None

Disclosures

None

Floors

Hardwood, Carpet, Ceramic Tile

Garage

Carport, Carport Attached, Driveway

Water Features

Water: Public

Heating

Wall

Lot

LotAcreage: 0.1493, LotSizeArea: 6,505

Miscellaneous

None

Parking

CarportSpacesTotal: 8, CoveredParking: 4, OpenOtherSpacesTotal: 8, TotalParking: 12

Pool

None

Property

NumberOfUnits: 7, OtherStructures: None, Zoning: LARD2

Sewer

In Street

Spa

None

Utilities

Gas

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