Downtown L.A. (C42) Homes with Two Levels Stories

Downtown L.A. (C42) Homes with Two Levels Stories

Welcome to the vibrant heart of Downtown Los Angeles (C42), where urban sophistication meets rich cultural diversity. Nestled in the bustling city of Los Angeles, this dynamic region is a hub of creativity, innovation, and excitement. With its iconic skyline, Downtown L.A. is not just a place to live; it’s a lifestyle that captures the essence of Southern California.

The area boasts a unique blend of historic architecture and modern skyscrapers, offering a variety of residential options, including stunning two-story homes. These multi-level residences provide an ideal setting for families and professionals alike, with spacious layouts that enhance both comfort and functionality. Imagine entertaining guests in your stylish living room, enjoying a cozy night in with loved ones, or unwinding on your private balcony, all while soaking in the breathtaking views of the city.

Living in Downtown L.A. means you’re never far from excitement. The area is home to world-class dining, trendy boutiques, and a thriving arts scene, including renowned museums and theaters. Enjoy leisurely strolls through historic neighborhoods, or take advantage of the nearby parks and green spaces that offer a refreshing escape from the urban hustle.

With convenient access to public transportation and major highways, commuting to other parts of Los Angeles is a breeze. Whether you're heading to work, exploring the vibrant nightlife, or indulging in weekend adventures, Downtown L.A. puts you at the center of it all.

Discover your dream two-story home in this iconic region and embrace the urban lifestyle you’ve always desired in Downtown Los Angeles!

Newest Downtown L.A. (C42) Homes with Two Levels Stories

$925,000
8 Beds ⋅ 4 Baths ⋅ 26990899 MLS ⋅ Active Status
This 4-unit property presents a compelling turnkey investment opportunity with room to grow, featuring a two-story, approximately 3,188 SF building on nearly 6,047 SF of LA[Q]R4-1 zoned land. All 4 units are appx 800 SF 2Br+1Ba units with 8 total parking spaces. The property benefits from stable tenants, many capital improvements, and one fully remodeled unit. Offered at 13.7 GRM and a 5.1% CAP Rate, this is a solid building with strong tenants and good bones. An ideal investment for under $1,000,000 in an area with extremely low historic vacancy, near DTLA, and with significant upside. 70% upside in rents! Additionally, the Seller has multiple feasibility studies and proposals to build up to 2 ADU's in the rear (Buyer to verify). The Seller also has a SB721 Balcony inspection report shows no needed repairs. Conveniently located near Central Avenue, the 10 Freeway, USC, Exposition Park, Downtown Los Angeles, the Fashion District, and LA LIVE, the property offers a combination of current income, value-add potential, and future development upside.

1335 E 21st Street, Los Angeles
$833,000
5 Beds ⋅ 5 Baths ⋅ 26990985 MLS ⋅ Active Status
We are pleased to present the opportunity to acquire 6714 Parmelee Ave, an attractive multifamily property that consists of five legal units and one non-conforming unit, located in the Florence-Firestone neighborhood of South Los Angeles. The property consists of approximately 2,506 SF of building area on a 5,237 SF lot and is zoned LCR3YY, offering an attractive combination of existing income and long-term upside. Originally constructed in 1963, the property features six 1-bedroom/1-bathroom units, providing an investor with a diverse income-producing asset. The property offers six parking spaces, including two open-air spaces and four covered carport spaces located in the rear, along with gated access. Residents benefit from individually metered gas and electricity, allowing the owner to minimize utility expenses and place greater responsibility for consumption directly on tenants. The property offers approximately 29% rental upside, providing an investor with an opportunity to increase income through the repositioning and lease-up of the property. The property is conveniently located directly across the street from Miramonte Elementary School, one block west of Compton Ave, and just a few blocks south of Gage Ave. Its location provides convenient access to major thoroughfares, public transportation, schools, employment centers, and neighborhood amenities throughout South Los Angeles.

6714 Parmelee Avenue, Los Angeles
$2,750,000
2 Beds ⋅ 20 Baths ⋅ 26990751 MLS ⋅ Active Status

4309 S Main Street, Los Angeles
$1,750,000
SR26205036 MLS ⋅ Active Status
*** 3 UNITS WILL BE DELIVERED VACANT **** This exceptional five-unit multifamily property presents a rare value-add opportunity in the heart of rapidly evolving Exposition Park, one of Los Angeles’ most active rental markets e The property features an attractive and versatile unit mix consisting of one 2-bedroom, 1-bathroom unit, two expansive 5-bedroom, 2-bathroom units, one 4-bedroom, 2-bathroom unit, and one 3-bedroom, 1-bathroom unit. The large unit configurations and flexible layout create outstanding income potential for investors pursuing student housing, traditional multifamily rentals, or alternative housing strategies in a consistently high demand location .Ideally situated 10 minutes walk distance to the University of Southern California, the property benefits from close proximity to some of Los Angeles’ most iconic destinations, including the Los Angeles Memorial Coliseum, a featured venue for the upcoming 2028 Olympic Games, the highly anticipated Lucas Museum of Narrative Art located less than half a mile away, only 10 minutes walk or 0.5 miles away ; Exposition Park, the California Science Center, the historic Rose Garden, BMO Stadium, and the Expo Line Metro Station offering convenient access from Downtown Los Angeles to Santa Monica .The property also provides easy access to major freeways and public transportation, further strengthening its long-term desirability and tenant demand .Adding to its exceptional appeal, the property is sitting in a 9,894 sq ft lot and it will be delivered almost vacant, offering investors a rare opportunity to immediately reposition the property, establish market rents, and maximize future income potential .This is an outstanding opportunity to acquire a well-located multifamily asset in one of Los Angeles’ most dynamic and transformative neighborhoods.

1134 W 39th, Los Angeles
$850,000
13 Beds ⋅ 7 Baths ⋅ 26856169 MLS ⋅ Active Status
Offered is a value-add South Central property consisting of a vacant 1,500+ SF house and quadruplex with 1 vacant unit. The house is in need of a full gut renovation and reconfiguration, ideal for a Jr. ADU conversion. The vacant unit in the 4plex is also in need of remodeling. Once rented, the owner will have 2 (or 3!) units at market rent, with significant upside in rent for the legacy tenants. Located on a corner lot with 2 curb cuts, there are 11 open parking spaces currently leased by the tenants on separate parking leases. The property will be sold with a recently passed SCEP Inspection. At under $200/SF and operating with all 2-4 bedroom units, this is an incredible deal at an affordable price point with huge upside. Located directly across from the YMCA and a church, and minutes from USC and the vibrant Exposition Park district, home to famous venues including BMO Stadium and Los Angeles Memorial Coliseum. Residents and tenants also benefit from immediate access to major cultural institutions such as the Natural History Museum and the California Science Center. This is a compelling value-add opportunity in a high-demand rental submarket, with multiple pathways for income growth through renovation, repositioning, and future development. Marketing package available with more info. Potential to be sold with other multifamily properties from same owner.

933 E 28th Street, Los Angeles
$950,000
6 Beds ⋅ 5 Baths ⋅ 26989463 MLS ⋅ Active Status
Excellent five-unit residential income property situated on one parcel, consisting of a four-unit apartment building addressed as 550 W 41st Dr and a separate single-family residence addressed as 552 W 41st Dr. Both addresses are associated with APN 5019-019-022. Fully occupied and generating established rental income in a high-demand rental area, the property presents an appealing opportunity for investors, portfolio buyers, 1031 exchange buyers, and others seeking a well-located income-producing asset in Los Angeles. The property offers approximately 3,120 rentable square feet on an approximately 6,763-square-foot lot, with low-maintenance landscaping and no on-site laundry helping simplify ongoing upkeep. Centrally located near USC, Exposition Park, BMO Stadium, the Los Angeles Memorial Coliseum, the Natural History Museum, the California Science Center, and the new Lucas Museum of Narrative Art, with convenient access to Metro transit, Downtown Los Angeles, major freeways, shopping, dining, and entertainment. Ideally positioned near major venues associated with the upcoming Los Angeles 2028 Olympic Games. Property to be delivered fully occupied.

550 W 41st Drive, Los Angeles
$3,150,000
27 Baths ⋅ 26988197 MLS ⋅ Active Status
We are pleased to present a twenty-seven (27) unit plus one (1) non-conforming unit apartment building located at 511 S Union Ave in Los Angeles, California. The subject property is located in a solid Westlake location, just north of 6th St and east of Alvarado St. Located in the heart of Westlake, this classic Spanish-style apartment building offers convenient access to Wilshire Boulevard, Beverly Boulevard, the Metro B Line, and the 101 and 110 freeways. The property features an efficient all-studio unit mix with approximately 25% rental upside, creating an attractive opportunity for investors seeking long-term growth. Additional value-add potential includes legalizing a nonconforming unit as an ADU and renting the vacant storage space for a projected $500 per month. Operational features include separate gas and electric meters, on-site laundry, one parking space, and a recently installed roof. Residents enjoy proximity to MacArthur Park, Vista Hermosa Natural Park, Lafayette Recreation Center, Grocery Outlet, Starbucks, the Grier Musser Museum, and MacArthur Park Shopping Center, among other neighborhood amenities. With significant rental upside, ADU conversion potential, and immediately rentable storage space, the property offers multiple avenues to increase income and enhance long-term value.

511 S Union Avenue, Los Angeles
$2,300,000
10 Beds ⋅ 9 Baths ⋅ 26986497 MLS ⋅ Active Status
Rare 9-unit value-add opportunity on the southeast corner of Hoover and W 45th, minutes from USC, Exposition Park, and the 110. Three buildings on one corner lot: two 2-story Spanish-style fourplexes plus a detached rear home, in all 8 one-bedroom units and 1 two-bedroom, 100% occupied. Approximately $107,300 in documented capital improvements since 2022, including new cool roofs on both fourplex buildings (2026), two full unit renovations, upgraded kitchens and baths, flooring, paint, water heaters, and electrical and plumbing repairs throughout. Four units are Section 8 with reliable HACLA-paid rents. Significant rental upside: most one-bedrooms rent well below the current HACLA payment standard of $1,793. Strong current cash flow with a clear path to a 6%+ cap rate at market rents. Additional income potential from an on-site laundry room with owner-owned machines. Units separately metered for gas and electricity. A clean, well-documented asset with detailed financials and improvement history available. Seller will cooperate with buyer's 1031 exchange.

4504 S Hoover Street, Los Angeles
$1,099,000
DW26200437 MLS ⋅ Active Status
An exceptional investment opportunity to acquire a large, income producing four-unit property ideally positioned within the high-demand Downtown Los Angeles rental market. This well located quadruplex features 12 bedrooms, 6 bathrooms, and approximately 4,164 square feet of total living space situated on a 6,258-square-foot lot. The property is fully rented and currently generates approximately $7,994 per month in gross rental income. Ideal for investors, 1031 exchange buyers, and developers. This property presents potential upside may be achieved through strategic rent adjustments, improved property management, unit renovations and upgrades. Ideally located just minutes from the University of Southern California (USC), USC Village, Los Angeles Memorial Coliseum, Exposition Park, BMO Stadium, and Downtown Los Angeles (DTLA). Its convenient access to major freeways, Metro Rail and public transportation enhances connectivity throughout Los Angeles. The location is particularly appealing to students, professionals, and long-term renters, benefiting from proximity to educational institutions, entertainment venues, sports facilities, and DTLA market. With the region continuing to experience significant investment and development, including preparations and improvements associated with the 2028 Olympic Games.

915 E 23rd Street, Los Angeles
$975,000
5 Beds ⋅ 2 Baths ⋅ 26985373 MLS ⋅ Active Status
First time on the market in over 20 years! Owned and enjoyed by the same family for over two decades, this rare investment opportunity is ideally located in the highly sought-after University Park neighborhood, just moments from USC. Built in 1903, this residence offers approximately 2,001 sq ft of living space on a 5,930 sq ft lot and is currently configured and used by the current owners as a 5-bedroom, 2-bath income-producing property. The property is currently tenant occupied and will be delivered vacant at the close of escrow. Spacious backyard offers potential for future projects, including a possible ADU or other improvements, subject to buyer verification and applicable approvals. Property is recorded as a single-family residence. Detached garage currently provides additional bonus space; buyer to verify permits, legal use, and all applicable approvals. Buyer to investigate all aspects of the property, including but not limited to permits, current use, rental income, square footage, zoning, development potential, and satisfy themselves through their own due diligence. Ideally located in University Park, one of Los Angeles's most established neighborhoods surrounding USC, with convenient access to Exposition Park, BMO Stadium, Downtown Los Angeles, restaurants, shopping, entertainment, and public transportation. An exceptional opportunity in one of Los Angeles's most desirable investment corridors.

1030 W 20th Street, Los Angeles
$1,225,000
PW26196197 MLS ⋅ Active Status
Four large 2-bedroom, 1-bathroom units in a 1985 built building, the kind of floor plan that keeps tenants in place for decades and rarely comes to market in this pocket of Los Angeles. One unit is delivered vacant and fully remodeled, giving an owner-occupant the option to move in immediately or an investor the ability to reset that unit to full market rent on day one. Because the property was built in 1985, it is exempt from the Los Angeles Rent Stabilization Ordinance. Rents are governed instead by the state's Tenant Protection Act, which currently permits annual increases of up to 8.7% in the Los Angeles metro area (subject to annual adjustment), nearly three times what an RSO building allows. In-place rents are already strong, but every occupied unit still sits below the vacant unit's market rate, so the next owner inherits both durable current income and a clear, legal path to raise it. The building is turnkey. New roof, well maintained, and off-street parking already in place for tenants with room to add more. Offered at a 9.91 GRM on current income, or roughly 8.77 GRM once all four units reach market. Directly across from Trinity Park and minutes from USC, Downtown, and the 110, the location draws from one of the deepest and most consistent tenant pools in the city.

427 E 25th Street, Los Angeles
$1,000,000
8 Beds ⋅ 8 Baths ⋅ 26969467 MLS ⋅ Active Under Contract Status
We are pleased to present 1433 E 61st Street, an 8 unit multifamily investment opportunity in South Los Angeles. The property sits on a 6,957 square foot lot with 4,456 square feet of gross building area and was originally constructed in 1957.The building is configured entirely as 1 Bedroom + 1 Bathroom units, offering a uniform, easy to manage unit mix with consistent tenant appeal. The building consists of a two story, wood frame structure with gas and electricity separately metered by unit, allowing utility expenses to be passed through to tenants and simplifying ownership. The property offers 7 open parking spaces located at the rear of the building, a meaningful amenity for tenants and a point of differentiation in the submarket. Interior unit features include vinyl plank flooring in the living room, tile flooring in the kitchen, and a wall heater. Bathrooms have been improved with new tile surround at the tub and a new vanity, while kitchens remain in original condition, presenting a clear value add opportunity for a future ownership group. At a purchase price of $1,000,000 ($125,000 per unit), the offering reflects a 7.69% current cap rate and a 7.30 GRM. With approximately 18.07% rental upside to market, an investor can achieve a pro forma cap rate of 9.93% and a 6.18 GRM through targeted renovation and lease up to market rents. This presents a rare opportunity to acquire a stabilized, income producing asset in South Los Angeles with straightforward value add potential through kitchen renovations and rent growth to market levels.

1433 E 61st Street, Los Angeles
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.