28 UNITS CURRENTLY VACANT! OPTION TO PURCHASE AS A PORTFOLIO (90 UNITS TOTAL). 2221 Michigan Ave presents an exceptional opportunity for investors in the heart of Boyle Heights. This well-maintained two-story apartment building, constructed in 1926, encompasses 9,229 square feet and comprises 32 units on a 6,053-square-foot lot. The unit mix consists of (24) Bachelors, (6) Studios, and (2) one bedroom + one bathroom units, catering to a diverse range of tenants. With 28 vacancies currently available, you can seize the opportunity to implement a value-add strategy and elevate the property to its full potential. By undertaking targeted renovations of individual units and common areas, you can position the asset to command premium market rental rates, offering flexibility for short-term and long-term tenancy arrangements. Participation in programs like the Section 8 Housing initiative through entities such as HACLA or PATH further enhances the property's appeal. Strategically located in the vibrant Boyle Heights neighborhood, just west of downtown Los Angeles, 2221 Michigan Ave benefits from its central location. The area boasts a dense population and a strong working-class community. Residents enjoy convenient access to amenities such as MacArthur Park, popular taco trucks, and efficient public transportation options, including bus and metro lines. Major employers such as Kaiser Permanente, Bank of America, and the Los Angeles County Department of Public Health are nearby. This property represents an exceptional investment opportunity in a dynamic and rapidly evolving neighborhood, offering immediate rental income potential and long-term value appreciation. **Buyer to verify Bed/Bath count and unit type. * 2221 Michigan Ave. can be purchased with 323 N Soto St & 1818 N. Broadway as a portfolio.
Property Details
Property Features
Property Information:
Year Built: 1926
Stories: 2
Living Area: 9,229 SqFt
Listing Office:
Office Name: Keller Williams Studio City
Office Phone: (818) 432-1500
Listing Agent: David Weinberger
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 2
Exterior Features
Parking Information:
Parking: None
Lot Features
Lot Information:
Lot Size: 0.14 Acres
Utilities
Utilities Information:
Cooling: Wall/Window Unit(s)
School Info
Assigned Schools Information:
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Felicitas and Gonzalo Mendez High School, Public District Grades 9-12
Daniel Pearl Journalism & Communications Magnet, Public Magnet Grades 9-12
Hollenbeck Middle School, Public Magnet Grades 6-8
Studio, Public District Grades 6-8
Sheridan Street Elementary School, Public District Grades KG-6
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Point Fermin Elementary School, Public Magnet Grades KG-5
Other
Directions Information:
Directions: Cross Streets: Michigan Ave & Chicago St
Price Information
Listing Price Info
Price Summary:
List Price: $4,300,000
Price Per SqFt: $466/SqFt
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $3.3M more than the Median Sold Price and $162/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24364103
Listing Office:
Office Name: Keller Williams Studio City
Office Phone: (818) 432-1500
Listing Agent: David Weinberger
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/29/2024, 2:20:25 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
3
/10
Sheridan Street Elementary School
416 Cornwell St
Distance between this listing and this school0.34 miles
Public District Grades KG-6
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school8.16 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school23.37 miles
Public Magnet Grades KG-5
Middle School
6
/10
Hollenbeck Middle School
2510 E 6th St
Distance between this listing and this school0.64 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.31 miles
Public District Grades 6-8
High School
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school0.59 miles
Public Magnet Grades 9-12
4
/10
Felicitas and Gonzalo Mendez High School
1200 Plaza Del Sol St
Distance between this listing and this school0.95 miles
Public District Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school19.45 miles
Public Magnet Grades 9-12
Assigned Schools
3
/10
Sheridan Street Elementary School
416 Cornwell St
Distance between this listing and this school0.34 miles
Public District Grades KG-6
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school8.16 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school23.37 miles
Public Magnet Grades KG-5
Assigned Schools
6
/10
Hollenbeck Middle School
2510 E 6th St
Distance between this listing and this school0.64 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.31 miles
Public District Grades 6-8
Nearby Schools
4
/10
Utah Street Elementary School
255 Gabriel Garcia Marquez St
Distance between this listing and this school0.83 miles
Public District Grades KG-8
Assigned Schools
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school0.59 miles
Public Magnet Grades 9-12
4
/10
Felicitas and Gonzalo Mendez High School
1200 Plaza Del Sol St
Distance between this listing and this school0.95 miles
Public District Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school19.45 miles
The neighbors living near this home have an average income of $31,029. The majority of Los Angeles, CA residents have income less than $35k annually. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2221 Michigan Ave Unit M
What is the listing price of this property?
The listing price of 2221 Michigan Ave Unit M property is $4,300,000.
What type of property is this?
The property 2221 Michigan Ave Unit M is a house located in Los Angeles, California, 90033.
Is this property for sale now?
Active Listing: 2221 Michigan Ave Unit M is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 2221 Michigan Ave Unit M are: Sheridan Street Elementary School: GreatSchools Rating 3/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Point Fermin Elementary School: GreatSchools Rating 6/10Hollenbeck Middle School: GreatSchools Rating 6/10Studio: GreatSchools Rating 4/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10Felicitas and Gonzalo Mendez High School: GreatSchools Rating 4/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 8/10
How many bedrooms and bathrooms does this property have?
The property at 2221 Michigan Ave Unit M has 2 bedrooms and 32 bathrooms.
What is the square footage of this property?
The property 2221 Michigan Ave Unit M is 9,229 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 2221 Michigan Ave Unit M is 1926.
Interested in 2221 Michigan Ave Unit M? Let's connect.
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This home is located at 2221 Michigan Ave Unit M in Los Angeles, CA and zip code 90033 in the Boyle Heights neighborhood. This 9,229 square foot home, which was built in 1926, sits on a 0.14 acre lot. Features: 2 bedrooms, 32 bathrooms. It has been listed on Rocket Homes since March 02, 2024 and is currently priced at $4,300,000.
While more than 628 listings in Los Angeles, CA in March 2024 were sold above asking price, there were more than 196 listings sold at asking price, and more than 579 were sold below. Between February 2024 and March 2024, Los Angeles, CA real estate market has seen increase in the number of listings by 10.8%. In March 2024, listings were on the market for 34 days. During the same period, the median list price in this real estate market was $975,970.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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