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721 School Avenue
Los Angeles, CA 90022
Sold
We are pleased to present 721 School Ave, a remarkable 6-unit multifamily property located in the heart of East Los Angeles. This unique property, featuring three separate structures, is being offered for sale for the first time in nearly 40 years.Built in 1941, the property consists of (3) one-bedroom units and (3) studio units, providing a total of 2,260 square feet of rentable space on a spacious 6,892 square foot lot. A notable feature of this property is the inclusion of (4) parking garages, which offer potential for conversion into ADUs (subject to buyer verification) or can be used to generate additional income through parking and/or storage fees.Situated near Whittier Blvd, a major thoroughfare in East Los Angeles, Montebello, and Whittier, 721 School Ave offers exceptional accessibility. It is conveniently located close to the 5/60/710 freeways and the Metro Gold Line's Atlantic Station, providing residents with easy commuting options. The property is also within close proximity to the famous Citadel Outlets, adding to its desirability.For the savvy investor, there is an opportunity to achieve nearly a 75% upside in rents through strategic renovations as future vacancies arise, making this an attractive investment in the bustling East Los Angeles market.
PROPERTY INFORMATION
| MLS # | 24361285 | Lot Size | 6,894 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 800,000
Price Per SqFt: $ 354 |
DOM | 438 Days |
| Address | 721 School Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 2,260 Sq. Ft. |
| Postal Code | 90022 | Garage | 4 |
| County | Los Angeles | Year Built | 1941 |
| Bed / Bath | 3 / 0 | Parking | 6 |
| Built In | 1941 | Status | Closed |
| Sold Date | 2024-04-05 |
INTERIOR FEATURES
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s) |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $853
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 02/22/2024 | Listed | $800,000 |
Topfind Realty
REALTOR®
(844)-333-8033
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Listing provided courtesy of Sevak Keshishian, Marcus & Millichap. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
