1072 Leonard Avenue, Los Angeles, California 90022, Los Angeles, 90022 - 0 bed, 0 bath
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Los Angeles, California 90022
This Six-Unit Multifamily Asset presents a High-Potential Investment Opportunity with a List Price of $1,180,000—positioned well below the $1,602,669 Fair Market Value by 26%. This valuation gap offers $422,669 in Instant Equity. Currently operating at a 6.47% Cap Rate, the property includes approved plans for two ADUs to drive a projected 8.18% yield. While maintaining a Vintage Condition Rating, its transit-oriented location near DTLA ensures high rental demand. This is a premier acquisition for Buy-and-Hold Investors and Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1072 Leonard Avenue Subject | $1,180,000* List Price | 0 | 0 | 4,861 | $330 | - |
A 1119 S Woods Sold | $1,375,000 | 0 | 0 | 4,858 | $283 | 0.8 mi |
B 725 S Hillview Sold | $840,000 | 9 | 5 | 3,500 | $240 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1930, this multi-unit property is well-maintained and functional but shows significant age. The kitchens and bathrooms feature dated cabinetry, older tile work, and basic appliances that lack modern updates. While the property is move-in ready for tenants and generates stable income, the overall aesthetic and systems are vintage, requiring cosmetic and infrastructure modernization to meet current 'good' or 'excellent' standards.
The property comes with approved plans for two 1-bedroom/1-bathroom ADUs, allowing an investor to immediately increase density and elevate the Cap Rate from 6.47% to a projected 8.18%.
With a current monthly rent collection of over $10,000 and a 9.64 GRM, the asset provides stable immediate cash flow in a high-demand rental market.
Located in a rapidly growing neighborhood adjacent to DTLA, the property offers excellent walkability to the train line, Hollenbeck Park, and local nightlife, ensuring long-term tenant desirability.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7007, other record lot size in square feet = 4503.
Built in 1930, the property may require higher-than-average maintenance costs or capital expenditures to modernize aging systems and structural components.
Achieving the maximum projected yield is contingent upon the investor's ability to fund and manage the construction of the ADUs, which introduces development risk and additional capital requirements.
1072 Leonard Ave presents an excellent opportunity to acquire a well-located six-unit multifamily property in the heart of East Los Angeles. The property features a desirable unit mix consisting of (1) Studio, (4) 1-bedroom/1-bath units, and (1) 2- bedroom/1-bath unit, currently collecting $10,196.73 in monthly rent. Situated on a large 7,007 square foot lot, the property comes with approved plans for a (2) 1-Bed/1-Bath ADUs, allowing an investor to start construction immediately. After construction, the property is projects a 8.18% Cap Rate (After factoring in Construction costs). Currently operating at a 6.47% cap rate and 9.64 GRM, the property provides stable in-place income with upside potential for an investor looking to grow rents over time. East Los Angeles is a quickly growing neighborhood in Los Angeles adjacent to Downtown Los Angeles. A vibrant and culturally diverse neighborhood known for its rich history, tight-knit community, and eclectic mix of cuisines, East LA offers a dynamic blend of residential charm, thriving local businesses, and a vibrant arts scene. With a close proximity to the train line stop and walking distance to Hollenbeck Park, and restaurants, bars and nightlife.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,861 | 4,179 | 75% |
| Lot Size | 7,007 | 6,045 | 50% |
| Price | $1.18M | $1.13M | 50% |
| Price per sq ft | $243 | $263 | 50% |
| Built year | 1930 | 1940 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 43 | 159 | 25% |
Mar 10, 2026
$1,180,000
Initial Listing
Aug 8, 2016
$843,000
Public Record
Apr 28, 2006
$645,000
Public Record
Oct 31, 2003
$410,000
Public Record
Aug 5, 2002
$285,000
Public Record