1406 2nd Ave Los Angeles, CA 90019

1406 2nd Avenue is a high-performing, turnkey 4-unit investment opportunity in the heart of Koreatownone of Los Angeles' most supply-constrained and rent-driven submarkets. Priced to deliver a 4.81% cap rate and 15.85 GRM, this asset offers immediate yield with proven rental strength and future upside.The property consists of four exceptionally large unitseach approximately 1,230 sq. ft., with one nearly 1,300 sq. ft.a rare scale that drives consistent tenant demand and premium rents. Unit layouts feature expansive living and dining areas along with in-unit laundry, appealing to long-term, stable tenants.Recent renovations position the asset competitively within the market: three units have been upgraded with hardwood flooring, granite countertops, and modern finishes. The largest unit has been fully renovated and is now leased at $2,750/month, establishing a strong rental benchmark and validating income potential across the remaining units.Significant capital improvements have already been completed, reducing future expense exposure, including full plumbing replacement (2018), new water heaters (2024), and a silicone-coated roof.Operational efficiencies further enhance returns, with separate water meters, tenant-paid utilities in three units, and eight on-site parking spacesan increasingly scarce and valuable amenity in Koreatown.With solid in-place income, demonstrated rent comps, and continued upward pressure on rents in the area, this property presents a compelling blend of cash flow and appreciation. Ideal for investors seeking a stable, low-maintenance asset with measurable upside, or for a 1031 exchange buyer looking to secure a foothold in one of Los Angeles' most resilient rental markets. Reviewing all offers.