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$865,000

  • For Sale
  • Under Contract
  • Multi-Family
  • 7 Total Beds
  • Updated 13 days ago
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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 water heaters (5 are tankless) 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. The property is 100% occupied. 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.

Full Property Details for 206 E Avenue 40

General

  • Price: $865,000
  • Status: Under Contract
  • Type: Multi-Family
  • Source: CLAW
  • MLS ID: 26662129
  • Updated: 3/24/2026
  • Added to Site: 29 day(s) ago

Interior

  • Rooms/Areas: Living Room, Studio
  • Interior Features: None
  • Cooking Appliances: Oven, Gas

Rooms

Bathrooms

  • Total Bathrooms: 7

Bedrooms

  • Total Bedrooms: 7

Other Rooms

  • Laundry: None

Additional Information

  • Shared Amenities: None
  • Pool Description: None
  • Spa Description: None
  • Security/Safety: Smoke Detector, Carbon Monoxide Detector(s)
  • Other Features: None

Parking

  • Garage Description: Driveway

Location

  • Area: Lincoln Heights
  • County: Los Angeles
  • Cross Streets: Midland St & N Pasadena Ave
  • Driving Directions: From N Pasadena Ave go west on Avenue 40. Property is located on the south side of the street between Pasadena Ave and Midland St.

Heating & Cooling

  • Cooling Type: Wall/Window
  • Heating Type: Wall Gas

Utilities

  • Sewer: In Street
  • Water: Public, Meter on Property

Structural Information

  • # Buildings: 7
  • Architectural Style: Bungalow
  • Common Walls: Detached/No Common Walls
  • Windows: Screens
  • Stories/Levels: 1
  • Square Feet: 2,864
  • Sq. Ft. Source: Vendor Enhanced
  • Year Built: 1921
  • Year Built Source: Vendor Enhanced
  • Property Condition: Additions/Alter, Updated/Remodeled

Unit Information

  • Units in Complex: 7
  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112

Unit 1

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 2

  • Total Bathrooms: 1

Unit 3

  • Total Bathrooms: 1

Unit 4

  • Total Bathrooms: 1

Unit 5

  • Total Bathrooms: 1

Unit 6

  • Total Bathrooms: 1

Unit 7

  • Total Bathrooms: 1

Additional Structures

  • Other Structures: None

Lot Features

  • Lot Size (Acres): 0.1722
  • Lot Size: 7500
  • Lot Size Source: Assessor
  • Lot Features: City
  • Zoning: LARD2
  • Lot Description: Single Lot, Level/Flat Lot, Street Paved, Curbs

Financial Considerations

  • Price Per Sq. Ft.: $302.03
  • Price Per Unit: 123571
  • Assessment Year: 1921

Disclosures and Reports

  • Disclosures/Reports: As Is
  • APN: 5451-002-005

Listed by Robert Leveen, Robert Leveen

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Listing agent

— 206 E Avenue 40 —

  • Robert Leveen

    Robert Leveen

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 206 E Avenue 40

School District:Los Angeles Unified School District
NameGradesDistance
Latona Avenue Elementary School
4312 Berenice Avenue, Los Angeles, CA 90031
PK-60.4 mi
Loreto Street Elementary School
3408 Arroyo Seco Avenue, Los Angeles, CA 90065
K-50.5 mi
Florence Nightingale Middle School
3311 North Figueroa Street, Los Angeles, CA 90065
7-80.6 mi
Sotomayor Arts and Sciences Magnet
2050 North San Fernando Road, Los Angeles, CA 90065
9-121.8 mi
Benjamin Franklin Senior High School
820 North Avenue 54, Los Angeles, CA 90042
9-121.8 mi
Abraham Lincoln Senior High School
3501 N. BRd.way, Los Angeles, CA 90031
9-121.2 mi
Woodrow Wilson Senior High School
4500 Multnomah Street, Los Angeles, CA 90032
9-122 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 206 E Avenue 40 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/09/2026
Listed
$865,000
116.52%
MLS
4/14/2011
Sold
$399,500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 206 E Avenue 40

Year
Property Taxes
Change
Tax Assessment
Change
2024
$6,972
2%
$511,816
4%
2023
$6,852
4%
$491,944
2%
2022
$6,566
1%
$482,299
2%
2021
$6,480
-1%
$472,843
1%
2020
$6,535
4%
$467,995
2%
2019
$6,307
2%
$458,820
2%
2018
$6,189
3%
$449,824
2%
2017
$6,021
3%
$441,005
2%
2016
$5,870
1%
$432,359
2%
2015
$5,793
-1%
$425,866
2%
2014
$5,857
—
$417,525
—
2013
$5,847
—
$415,639
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 206 E Avenue 40

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Robert Leveen, Robert Leveen

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206 E Avenue 40, Los Angeles, CA 90031 (MLS# 26662129) is a Multi-Family property with units containing 7 bedrooms and 0 full bathrooms. 206 E Avenue 40 is currently listed for $865,000 and was received on March 09, 2026. Want to learn more about 206 E Avenue 40? Do you have questions about finding other Multi-Family real estate for sale in Lincoln Heights? You can browse all Lincoln Heights real estate or contact a Coldwell Banker agent to request more information.

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