2440 Wabash Ave, Los Angeles, CA 90033

Property Description

2440 Wabash Ave presents a five-unit multifamily value-add opportunity located in the rapidly evolving Boyle Heights submarket of Los Angeles, just east of Downtown LA. Built in 1923, the property consists of three single-story buildings totaling approximately 2,756 square feet on an 8,066 square foot lot and is offered fee simple. Current rents remain significantly below market, providing investors with a clear path to value creation through interior renovations and operational improvements. The unit mix consists of (2) one-bedroom/one-bath units, (1) two-bedroom/one-bath unit, and (2) three-bedroom/two-bath units, supporting broad tenant demand and flexible repositioning strategies. The property benefits from a transit-oriented location near major bus lines, Metro stations, and convenient access to the US-101, I-5, and I-10 freeways. Situated minutes from Downtown Los Angeles, the Arts District, USC Medical Center, and major employment centers, the asset is well positioned to capture continued renter demand driven by ongoing neighborhood revitalization, strong urban connectivity, and durable Eastside rental fundamentals.