4020 Midland St
Los Angeles, CA 90031
Midland Apartments · Multifamily Property For Sale · 9 Units

$100,000 PRICE REDUCTION. BRING ALL OFFERS. Marcus & Millichap is pleased to present 4020 Midland Street, a 9-unit apartment building in the emerging and trendy residential neighborhood of Highland Park, just east of Downtown Los Angeles. The property has an excellent unit mix consisting of two single/one-bathroom units and seven two-bedroom/one-bathroom units. The building features new copper plumbing, newly landscaped common areas, new roof and new exterior paint. Three of the units have been completely renovated and are achieving market rents. The remaining six units have not been renovated and provide an investor a tremendous value add opportunity. Built in 1964, the building is 5,620 square feet and sits on a 7,500 square foot lot zoned LARD2. Conveniently located just east of Downtown Los Angeles, Highland Park is inhabited by a variety of ethnic and socioeconomic groups and in recent years has experienced rapid gentrification, quickly becoming one of the hottest neighborhoods in the city. The area, which has become a popular rental location for young professionals in downtown Los Angeles, features hip coffee shops, bars, cafes, restaurants, art galleries and trendy boutique retailers. The property is located near Figueroa Street, providing convenient access to the 110 and 5 Freeways, and is walking distance to the Southwest Museum Metro Goldline Station. As Downtown Los Angeles continues to grow, the area is will likely continue to improve.