**10.03 GRM / 6.18% CAP In place +/- & 7.97 GRM / 8.60% CAP @ Market +/- & Three (3) RTI Adu's**We are pleased to present the opportunity to acquire The Roselake in the submarket of Historic Filipinotown (LA Market) and in close proximity to Echo Park, Hollywood, Koreatown, and DTLA. This offering includes a 10-unit multifamily building built in 1965 with a footprint of approximately 4,716 SF, sitting on a 4,423 SF corner lot zoned LAR4.The Roselake offers an investor a significant value-add opportunity with approximately 25.88% (+/-) of potential upside in rents spread across a desirable unit mix. Delivered with 3 RTI ADUs, the property provides strong in-place income and upside potential. Additionally, it benefits from exceptional visibility and frontage, a low cost per unit, and the possibility of leveraging the high demand for both market-rate and Section 8 tenants. This well-located multifamily property offers a rare opportunity to secure a corner lot with parking and laundry, in a high-demand rental pocket surrounded by new development and continued gentrification.The Roselake is situated in Historic Filipinotown, a diverse and vibrant neighborhood. The property is located close to Echo Park, Hollywood, Koreatown, and Downtown Los Angeles, providing easy access to cultural and commercial hotspots. Historic Filipinotown offers a mix of history and growth, making it a highly attractive area for tenants. Additionally, the property is near Echo Park Lake, numerous cafes, restaurants, and other amenities, offering a rich living experience. This neighborhood continues to experience growth due to its centrality and ongoing gentrification.
|
DAYS ON MARKET
|
37
|
LAST UPDATED
|
10/9/2024
|
|
YEAR BUILT
|
1965
|
COMMUNITY
|
Silver Lake - Echo Park
|
|
GARAGE SPACES
|
4.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to Oct 9, '24
|
$1,650,000
|
| Oct 9, '24 - Today |
$1,649,000 |
| AREA |
Silver Lake - Echo Park |
| GARAGE |
Yes |
| LOT |
4423 sq ft |
| LOT DESCRIPTION |
Corner Lot |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
| ZONING |
LAR4 |
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Listed with Keller Williams Realty Calabasas
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 10:31 PM PDT 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. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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