John E Burge

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2254 W 15thLos Angeles, CA 90006

Multi-Family · 0.17 Acres
$1,000,000 Active

2254 W 15th Overview

Time on Site:
113 days
Visits:
0

Rare opportunity to acquire a centrally located 4-unit multifamily property in the heart of Los Angeles. Located in the highly desirable Pico-Union / Koreatown submarket, this property offers strong rental demand, excellent accessibility, and significant long-term upside. Built in 1921, the property sits on a large 7,488 square foot LAR3 zoned lot, offering investors potential value-add and future redevelopment opportunities. With limited multifamily inventory available in this high-demand rental market, this property represents an attractive opportunity for investors seeking both current income and long-term appreciation. Conveniently located just minutes from Downtown Los Angeles, Koreatown, and USC, tenants benefit from easy access to major employment centers, public transportation, restaurants, and entertainment. LAR3 Development Opportunity – 7,488 SF Lot in Central Los Angeles”

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2254 W 15th Facts & Features

  • Type Multi-Family
  • Lot 0.17 Acres

Details

General

Association/HOA

  • Association: No
  • Common Interest: None

Income/Expenses

  • Gross Income: 60942.0
  • Gross Scheduled Income: 60942.0
  • Insurance Expense: 2066.0
  • Net Operating Income: 60342.0
  • New Taxes Expense: 11000.0
  • Water Sewer Expense: 3900.0

Listing Information

  • Contingency: AS-IS CONDITION

Building Information

  • New Construction: No
  • Year Built: 1921

Location/Region

  • Country: US
  • County Or Parish: Los Angeles
  • MLS Area Major: C16 - Mid Los Angeles
  • Postal City: LOS ANGELES

Community/Development

  • Community Features: Urban

Rent/Lease Information

  • Land Lease: No
  • Lease Term: 12 Months
  • Tenant Pays: Electricity,Gas,Telephone

General Information

  • Listing Terms: Cash,1031 Exchange,VA Loan
  • Parcel Number: 5056006013
  • Property Sub Type: Mixed Use
  • Property Type: Residential Income
  • Rent Control: Yes
  • Senior Community: No
  • Special Listing Conditions: Standard

Interior

Parking Information

  • Garage Spaces: 4.0
  • Garage: Yes

Building Interior

  • Building Area Units: Square Feet

General Information

  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Entry Location: 1
  • Fireplace Features: None
  • Fireplace: No
  • Laundry Features: None
  • Levels: Two
  • Spa Features: None
  • Spa: No
  • Stories: 2
  • Stories Total: 2

Exterior

Parking Information

  • Parking Total: 4.0

Lot Information

  • Additional Parcels: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Acres: 0.1719
  • Lot Size Area: 7488.0
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 7488.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

    Building Exterior/Construction

    • Property Attached: Yes

    General Information

    • Number Of Units Leased: 4
    • Number Of Units Total: 4
    • Pool Features: None
    • Pool Private: No
    • Sewer: Public Sewer

    2254 W 15th Neighborhood

    Community

    90006 (Los Angeles) Demographics

    34
    Median Age
    30,503
    Population Density (per sq. mile)
    24%
    College Educated
    $37,375
    Estimated Median Income
    1,777
    Estimated Total Home Owners
    17,372
    Estimated Total Renters
    9% / 91%
    Estimated Owner / Renter Divide
    3
    Estimated Average Household Size
    Community data courtesy of LiveBy, Inc.

    Schools

    School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

    2254 W 15th Monthly Cost

    $
    $ %
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    $
    $
    * All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

    2254 W 15th Market Data

    Based on the last 30 days in this zip code

    $804,658
    Average List Price
    $523
    Average Price per Square Foot
    10
    Properties Sold
    77
    Average Days on Market
    153
    Properties for Sale
    Calculations provided by Reliance Network

    2254 W 15th History

    Date Event Value Agent
    6/18/2026Source: CRMLS Price Increase
    $1,000,000 5.3%
    6/6/2026Source: CRMLS Price Reduction
    $950,000 -5.0%
    3/30/2026Source: CRMLS Price Reduction
    $1,000,000 -9.1%
    3/8/2026Source: CRMLS Added to Database
    March 08, 2026
    Listing provided courtesy of OneTop RealtySang Gae- MLS# PW26049046MLS ProviderContact Information: 714-469-7987
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