1072 Leonard Ave

Kian Maronde represented the buyer in the $1.115 million acquisition of 1072 Leonard Ave, a six-unit multifamily property in East Los Angeles, securing the asset at a strong 6.47% cap rate and 9.64 GRM. The property provides solid in-place income with four recently placed tenants and two units delivered vacant. Beyond the existing six units, the property offers additional value-add potential through approved plans for two ADUs, which can replace the garages while maintaining tenant parking. The expansion is expected to support approximately 11% additional rental upside, giving the buyer both immediate yield and a clear path for future income growth.