2716 Marengo St, Los Angeles, CA 90033
- beds · - baths · 1,188 sqft
Welcome to 2716 Marengo St, a versatile two-unit property located in the heart of Boyle Heights. This unique property offers the perfect balance of urban convenience and investment potential, making it an ideal choice for both homeowners and savvy investors. Situated just minutes from downtown Los Angeles, this property provides seamless access to major freeways, vibrant local amenities, and cultural landmarks. The front unit is a warm and inviting space, featuring two well-appointed bedrooms and a thoughtfully designed layout. Natural light floods the living spaces, creating a cozy atmosphere perfect for relaxation or entertaining. The updated kitchen includes cabinetry with ample storage, while the bathroom boasts a touch of contemporary charm. A welcoming front porch and mature landscaping complete this charming home. The rear unit is a private retreat, offering a functional one-bedroom, one-bathroom layout. The compact design maximizes space efficiency without sacrificing comfort. The kitchen is well-equipped, and the bedroom provides a peaceful haven for relaxation. This unit also features access to a private outdoor patio area, perfect for al fresco dining or enjoying quiet evenings under the stars. Outside, the property offers ample space for both recreation and functionality. The backyard is large enough for gardening, entertaining, or potential future enhancements, and two storage sheds provide convenient options for keeping belongings organized. The detached garage offers parking or additional workspace, adding further value to this multifamily property. Located in the vibrant community of Boyle Heights, this property puts you in the center of it all. Enjoy a quick commute to downtown Los Angeles and nearby neighborhoods, along with easy access to local parks, schools, restaurants, and cultural hotspots. With its proximity to public transportation and major freeways, the property is perfectly positioned to cater to modern urban living. Whether you’re looking for a primary residence with rental income potential or a long-term investment opportunity, 2716 Marengo St is a rare find in one of LA’s most dynamic neighborhoods. Schedule your showing today and discover the possibilities this property has to offer!
Source: CRMLS #DW23184836
Financials
Source: CRMLS #DW23184836
Source: Public records
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Other resourcesWhat is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.