Description

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.