7 Units | 7.13% Cap Rate | Individual Bungalows | ±17.7% Rental Upside

Highlights:

• Rare seven-unit bungalow-style community
• Unit mix of (5) one-bedroom/one-bath and (2) two-bedroom/one-bath units
• New Siemens main electrical panel and subpanels
• Individual water heaters for each unit
• Separately metered for gas and electricity
• True value-add opportunity with ±17.7% rental upside
• Select units feature upgraded modern interiors
• Prime Westlake / MacArthur Park location with direct access to Downtown Los Angeles, Koreatown, Pico-Union, USC, and the greater Westside
• Excellent multi-modal connectivity via Olympic Boulevard, Vermont Avenue, Hoover Street, the I-10 Freeway, Metro rail, and local bus routes
• Strong and diversified renter demand driven by central location, transit accessibility, and relative affordability
• Immediate proximity to major employment, educational, medical, and entertainment centers
• Dense infill rental corridor characterized by high barriers to entry and limited multifamily land supply
• Transit-oriented workforce housing location that benefits from ongoing Los Angeles housing affordability constraints and resilient tenant demand

Description:

Lucrum Real Estate Group is pleased to present 2401 W. 10th Street, a rare seven-unit value-add multifamily opportunity in the highly desirable MacArthur Park submarket of Los Angeles. Situated on an approximately ±6,789 square foot LAR4-zoned lot, this distinctive property features seven individual bungalow structures that deliver immediate income, substantial rental upside, and meaningful long-term redevelopment potential.

Built in 1923, the asset offers approximately ±3,450 square feet configured as five one-bedroom / one-bath units and two two-bedroom / one-bath units. The unique bungalow layout provides exceptional flexibility for investors to execute unit turnover, targeted interior renovations, exterior enhancements, and operational improvements while preserving the existing seven-unit configuration. The property features a new Siemens main electrical panel and subpanels, an individual water heater for each unit, and separate gas and electric meters, while select units have already been upgraded with modern interiors. Renovated units are positioned to achieve meaningful rental premiums, and the site carries clear potential for greater density subject to current City of Los Angeles zoning, development standards, and housing requirements.

UNIT MIX:

(5) One-Bedroom + One-Bath
(2) Two-Bedroom + One-Bath
With its combination of in-place cash flow, clear value-add upside, scarce small multifamily land, and long-term optionality, 2401 W. 10th Street stands out as a compelling investment in one of Central Los Angeles’ strongest rental corridors.

2401 W. 10th Street enjoys a prime position in the Westlake / MacArthur Park submarket — one of Los Angeles’ most centrally located and consistently demanded multifamily rental corridors. Residents benefit from outstanding connectivity to Downtown Los Angeles, Koreatown, Pico-Union, the USC area, Beverly Hills, West Hollywood, and the greater Westside via Olympic Boulevard, Vermont Avenue, Hoover Street, the I-10 Freeway, Metro rail, and multiple bus lines.

The surrounding neighborhood continues to attract investment and revitalization, supported by a growing mix of restaurants, cafés, neighborhood retail, schools, and services. As a transit-oriented and relatively affordable location within the urban core, the area draws a broad and stable workforce renter base seeking convenient access to major employment, educational, medical, and entertainment centers without the premium pricing of many coastal submarkets. High barriers to entry and limited availability of multifamily land reinforce durable long-term demand for well-located existing apartment assets in Central Los Angeles.