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206 E Avenue 40, Los Angeles, CA 90031

$865,000

$302 per ft²

7 Bed

7 Bath

2,864 Sq Ft

0.1722 Acres

Listing Office: Robert Leveen

Image 1 of property listing at 206 E Avenue 40, Los Angeles, CA 90031

Image 2 of property listing at 206 E Avenue 40, Los Angeles, CA 90031

Image 3 of property listing at 206 E Avenue 40, Los Angeles, CA 90031

Image 4 of property listing at 206 E Avenue 40, Los Angeles, CA 90031

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Image 7 of property listing at 206 E Avenue 40, Los Angeles, CA 90031

We are pleased to present Avenue 40 Apartments located at 206 E. Avenue 40 in Los Angeles. The property is located on a quiet residential street nestled between Cypress Park and Highland Park. The charming seven unit complex was originally constructed in 1921 and had a major renovation in 2011. Significant upgrades were completed to the plumbing and electrical systems. New roofs were installed on three of the bungalows. Further, 206, 206 , and 208 have had major remodels since that time when the units became vacant. Total capex exceeds $150,000. The 2,864 SF property is comprised of six x studio/one bath, and one x one bedroom/one bath detached bungalows. There are individual tankless water heaters and the property is separately metered and ownership only pays for water and sewer. The property is subject to city of Los Angeles Rental Stabilization Ordinance. Highland Park has enjoyed a renaissance over the last decade as a hip place to live. New restaurants and shopping have created a local economic engine, driving up property values and rents. The property is ideally situated to take advantage of the local burgeoning economy, and also has easy access to I-110 and I-5. Further, Metro's Heritage Square A Line station is less than a 10 minute walk from the property. The offering is an ideal opportunity for an investor to take advantage of a turnkey bungalow property. Priced at a 6.54% CAP upon acquisition, and major capital expenditures completed, this is an excellent low maintenance opportunity with approximately 40% rental upside.

Listing Agent: Robert Leveen

License Number: 01476685

Offered by: Robert Leveen

Office Phone: 213-995-6684

MLS: #26662129

California Regional MLS

Date Added: 03/09/2026 12:00:00 am

Last Update: 03/10/2026 12:18:43 am

Days on Market: 2

Interior

Appliances: Oven,Refrigerator
Laundry: None
A/C: true, Wall/Window Unit(s)

Exterior

General: None
Style: Bungalow
Pool: None
Parking: Driveway, Parking spaces: 1

Construction

Windows: Screens
General: 1

Location

Originating MLS: CRMLS_CL
County: Los Angeles

Lot

Zoning: LARD2, 5451002005

Utilities

Sewer: Other

Financial

Source: CRMLS_CL

Property

Year Built: 1921
Type: Multi-Family
Style: Bungalow
Neighborhood: Highland Park
Parcel #: 5451002005

03/10/2026Active

03/10/2026$865,000@ 302 per ft²Listed

Listing Broker

Tade Keshishyan

1 @

License #: 02190628

Email: [email protected]

Phone: 8183592303

Location: CA

Last Updated: 03/10/2026 12:18:43 am

Offered by: Robert Leveen, 01476685, 213-995-6684 @ Robert Leveen

MLS: #26662129

Source: California Regional MLS

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206 E Avenue 40, Los Angeles, CA 90031 is a 7 Bed, 7 Bath, 2,864 Sq Ft, 0.1722 Acres, Multi-Family built in 1921.

This property is currently available and was listed by California Regional MLS on 03/09/2026 12:00:00 am. The MLS # for the property is MLS #26662129.