2202-2208 Michigan Ave - Apartments FOR SALE


Los Angeles, CA 90033- Boyle Heights
$7,500,000 USD
310-463-2916
2202-2208 Michigan Ave, Los Angeles, CA for Sale
$7,500,000 USD
Apartments - FOR SALE
1/12
null | 5.71% Cap Rate

2202-2208 Michigan Ave
Los Angeles, CA 90033
Boyle Heights


HIGHLIGHTS

  • Priced at 10.71 GRM on Current Rents (as of 4/1/2025)
  • 1985 Construction - Not Subject to Los Angeles Rent Ordinance
  • Meticulously Renovated Property with $500K Spent on Capital Improvements
  • Strong ADU Potential with Garage Conversions
  • Dynamic Up-and-Coming Boyle Heights Location
  • One Block from Highly-Amenitized Retail Corridors on E. Cesar Chavez Avenue and Soto Street

OVERVIEW

Michigan Heights Apartments is a well-maintained, 28-unit apartment complex located at 2202-2208 Michigan Avenue, in dynamc Boyle Heights, one block from highly-amenitized retail corridors on E. Cesar Chavez Avenue and Soto Street. The property is comprised of (25) two-bedroom/one bath units and (3) studio units. Units are bright with hardwood floors throughout, stainless steel appliances, and modern kitchens and bathrooms. Appealing features include attractive landscaping, secure gated access, on-site laundry facilities, designated parking, and community BBQ areas. Approximately $500K has been invested in capital improvements including new windows, upgraded electrical systems, new roofing on half of the building, and interior renovations. Michigan Heights is well-located in one of LA's most unique and vibrant communities. Known for its deep cultural roots, Boyle Heights has received increased attention in recent years for its Michelin-recognized chefs, celebrated eateries, and a thriving artistic community. The property is centrally located just three miles from Downtown Los Angeles and offers easy access to major freeways (I-10, I-5, I-60 & 101), making it a highly desirable rental location for tenants seeking a vibrant neighborhood with exceptional convenience.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$339 USD /SF

# OF UNITS

28

PRICE/UNIT

$267,857

CAP RATE

5.71%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Not Subject to LA RSO

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,386 SF

ZONING

LARD1.5

APN/PARCEL ID

5183-005-051

ASK ABOUT THIS PROPERTY

Robert SteppStepp CommercialMore Info
310-463-2916

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Robert SteppStepp CommercialMore Info
310-463-2916

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.