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1724 Menlo Avenue, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath

1724 Menlo Avenue, Los Angeles, California 90006 home-pic-0
ACTIVE$2,999,000
1724 Menlo Avenue, Los Angeles, California 90006
0Bed
0Bath
7,300Sqft
6,122Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
New Construction & Non-Rent-Controlled: Built in 2024, this property offers the benefits of new construction with minimal immediate maintenance, and its non-rent-controlled status in Los Angeles is a significant advantage for investors seeking stable returns.
Top Cons:
Discrepancy in Unit Count: The property description details a 'five-unit community' with a breakdown of five units, yet the MLS sub_type is listed as 'Quadruplex' (four units). This inconsistency requires clarification and could impact financing or legal classification.

Compared to the nearby listings

Price:$3.00M vs avg $1.29M (+$1,710,500)75%
Size:7,300 sqft vs avg 4,332.5 sqft75%
Price/sqft:$411 vs avg $39150%

More Insights

Built in 2024 (1 years old).
Condition: This property is a brand new 2024 build, as explicitly stated in the description. The images confirm a modern aesthetic with new construction throughout. The bathrooms feature sleek white cabinetry, contemporary black fixtures, and stylish tile work. The living areas and bedrooms boast new light wood-look flooring and recessed lighting. All components are new, meeting current quality standards with no deferred maintenance, perfectly aligning with the 'Excellent' condition criteria.
Year Built
2024
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
$411
HOA
-
Days on market
-
Sold On
-
MLS number
BB25218032
Home ConditionExcellent
Features
Good View: City Lights, Neighborhood
Patio
ViewCity Lights,Neighborhood

About this home

1724 Menlo Ave is a NON-RENT-CONTROLLED 2024 build, five-unit community located in the vibrant Pico-Union neighborhood, just minutes from Downtown Los Angeles and Koreatown. This prime central location attracts strong rental demand from young professionals, students, and creatives, offering investors an impressive 6.05% stabilized cap rate with minimal expenses. The property showcases an ideal unit mix across two modern buildings, featuring two spacious 4-bedroom/4-bathroom units, two 3-bedroom/3.5-bathroom units, and one highly rentable 1-bedroom/1-bathroom unit. Designed with premium layouts, each residence is separately metered for gas, water, and electric, and comes equipped with in-unit washers/dryers, private entrances, and dedicated parking (8 spaces total), ensuring long-term tenant appeal and low operating costs. Luxury finishes include sleek modern kitchens, designer tile, high ceilings, expansive windows, and thoughtfully designed interiors that maximize both function and style. With an impressive Walk Score of 85, residents enjoy easy access to neighborhood dining, cafes, and entertainment, while being a short drive from LA Live, USC, Crypto.com Arena, the Arts District, and Koreatown’s vibrant nightlife. With SB-8 limiting new construction, opportunities like this are increasingly rare. The combination of a high cap rate, desirable unit mix, premium finishes, and unbeatable location make 1724 Menlo Ave a turn-key, cash-flowing investment and a perfect 1031 exchange option in one of LA’s strongest rental corridors.

Nearby schools

3/10
Magnolia Avenue Elementary School
Public,•K-6•0.2mi
3/10
Leo Politi Elementary School
Public,•K-5•0.6mi
4/10
Norwood Street Elementary School
Public,•K-5•0.8mi
5/10
Vermont Avenue Elementary School
Public,•K-5•0.8mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.9mi
3/10
Los Angeles Elementary School
Public,•K-5•1.0mi
2/10
Tenth Street Elementary School
Public,•K-5•1.1mi
8/10
Hoover Street Elementary School
Public,•K-5•1.1mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•1.1mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.2mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•1.3mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.3mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.7mi
3/10
Berendo Middle School
Public,•6-8•0.6mi
3/10
John H. Liechty Middle School
Public,•6-8•1.5mi
5/10
Pio Pico Middle School
Public,•6-8•1.6mi
4/10
John Adams Middle School
Public,•6-8•1.7mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.1mi
4/10
West Adams Preparatory High School
Public,•9-12•0.1mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.3mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.3mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.3mi
5/10
Foshay Learning Center
Public,•K-12•1.8mi
5/10
Santee Education Complex
Public,•9-12•1.9mi
3/10
Belmont Senior High School
Public,•9-12•2.1mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.2mi

Price History

Date
Event
Price
09/28/99
Sold
$169,000
06/28/21
Sold
$905,000
06/04/21
Sold
$551,500
Condition Rating
Excellent
This property is a brand new 2024 build, as explicitly stated in the description. The images confirm a modern aesthetic with new construction throughout. The bathrooms feature sleek white cabinetry, contemporary black fixtures, and stylish tile work. The living areas and bedrooms boast new light wood-look flooring and recessed lighting. All components are new, meeting current quality standards with no deferred maintenance, perfectly aligning with the 'Excellent' condition criteria.
Pros & Cons

Pros

New Construction & Non-Rent-Controlled: Built in 2024, this property offers the benefits of new construction with minimal immediate maintenance, and its non-rent-controlled status in Los Angeles is a significant advantage for investors seeking stable returns.
Strong Investment Potential: Advertised with an impressive 6.05% stabilized cap rate, the property is positioned as a turn-key, cash-flowing investment, ideal for a 1031 exchange in a strong rental corridor.
Desirable Unit Mix & Tenant-Friendly Amenities: The property features an ideal mix of spacious 4-bedroom, 3-bedroom, and 1-bedroom units, each with in-unit washers/dryers, private entrances, dedicated parking (8 spaces), and separate utility metering, ensuring high tenant appeal and low operating costs.
Prime Central Location & High Walk Score: Located in the vibrant Pico-Union neighborhood, minutes from Downtown LA and Koreatown, it attracts strong rental demand from young professionals, students, and creatives, further bolstered by an impressive Walk Score of 85.
Luxury Finishes & Modern Design: Units boast luxury finishes including sleek modern kitchens, designer tile, high ceilings, and expansive windows, contributing to a premium living experience and market competitiveness.

Cons

Discrepancy in Unit Count: The property description details a 'five-unit community' with a breakdown of five units, yet the MLS sub_type is listed as 'Quadruplex' (four units). This inconsistency requires clarification and could impact financing or legal classification.
High Capital Investment: The list price of $2.999 million represents a substantial capital outlay, potentially narrowing the pool of eligible investors and requiring significant financing.
Limited Outdoor Space: With a 7300 sqft building on a 6122 sqft lot for potentially five units, individual outdoor space or common recreational areas are likely minimal, which could be a drawback for tenants seeking more expansive private or shared outdoor amenities.

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