214 S Ave 18 - 214-218 S Ave 18 4 Unit Apartment Building Offered at $1,100,000 at a 5.43% Cap Rate Los Angeles, CA 90031

Marcus and Millichap is pleased to present both a 4-unit apartment building and vacant land located at 214-218 S Avenue 18 in Los Angeles, California. It is located in a good Lincoln Heights location, north of Main St and west of Griffin Ave.
This well-located Lincoln Heights property offers a rare development and value-add opportunity on a large 12,119 SF double lot with two separate APNs, zoned LARD1.5. The site includes an existing 2,066 SF fourplex comprised of two one-bedroom and two two-bedroom bungalow-style units. Two units are currently vacant, while one additional unit is occupied by the seller’s family and will be delivered vacant upon sale, providing near-term upside. Buyers can renovate the vacant units and explore redevelopment options on the vacant land, including potential ED1 or market-rate housing, subject to LADBS verification. Priced at approximately $90 per total land SF, the property benefits from excellent access to major commercial corridors including North Broadway, Spring Street, and Main Street, supporting long-term investment appeal.
Overall, the vacant units and land provide a clear value-add pathway, offering immediate upside through renovation and the potential to further maximize density and returns through redevelopment of the vacant lot.
Note: Property is being sold with 218 S Ave 18, Los Angeles, CA 90031 (APN: 5447-025-014), which is the vacant lot next to the existing structure.