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Listed by Daniel Lewin, DRE #01932742 • Younglewin Advisors, Inc.
$1,820,000
Est. payment /mo
8,930 Sqft Lot
New
2340 Portland ST Los Angeles, CA 90007
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26241181
Style Craftsman
Year Built 1905
Lot Size 8,930 Sqft
Property Sub-Type Duplex
Source California Regional MLS
Property Description
USC-Area 2-Unit Property - 1905 Front House + 2018 ADU, 8.03% Current Cap Rate, 5-Minute Walk to USC. 2340 Portland Street presents a 2-unit, 9-bedroom investment opportunity located a short 5-minute walk to the USC campus. The property consists of a classic 1905 two-story front house configured as a 6 bed/6 bath and a 2018-built 3 bed/3 bath ADU, totaling approx. 3,738 SF on a large 8,930 SF lot. The front house features a fireplace, wood-style flooring, and an updated kitchen, and the ADU offers a modern kitchen with stainless steel appliances. Both units are currently leased, providing in-place income. Offered at $1,820,000, $910,000 per unit and $487 per square foot, at an 8.03% current cap rate and 9.21 GRM. Current rents total $16,464/month ($197,568/year). As a 2-unit property, it may qualify for residential financing. Located within USC's DPS patrol zone and free Lyft ride zone, with easy access to Downtown LA, the 10 Freeway, the LA Convention Center, Exposition Park, the LA Memorial Coliseum, and the new Lucas Museum of Narrative Art, with the area set to host major events for the 2028 Olympic Games.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Rooms
Kitchen Dishwasher, Microwave, Oven Range - Gas, Refrigerator
Interior
Heating Central Forced Air
Cooling Central AC
Flooring Laminate
Laundry Laundry Area
Exterior
Pool None
Building
Lot Description Grade - Level
Water District - Public
Architectural Style Craftsman
Others
Tax ID 5124012018
Special Listing Condition Not Applicable
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