Presenting a rare opportunity to acquire this attractive 1992 custom-built and meticulously crafted,5 unit,city view apartment complex. Located adjacent to the iconic Chinatown, Echo Park & Silverlake areas of Los Angeles,& positioned strategically& conveniently near the #2,5,134,110,&101 freeways,& rapid transit including the Gold Line & bus routes. It is situated in a trendy & up-and-coming strong rental market amidst DTLA, Silverlake,Dodger Stadium,Echo Park & the Financial District neighborhoods with major employers including USC,Good Samaritan Hospital,Paramount Studios,& the Los Angeles Fashion and Arts Districts,& much more.This property offers an excellent opportunity for discerning homeowners or investors to secure a true value-added asset in a highly coveted locale.Comprising 3 stories with a total building size of 7,658 sq.ft. per assessor,all units are spacious & the apartment complex boasts a desirable unit mix including an OWNER unit of approx.2,641 sq.ft.(will be available upon close of escrow with new paint & carpet throughout) featuring a 3br,3.5bth townhome-style front unit with an office /den(could be used as a 4th bedroom),large recreation room, C/A, spacious laundry area, ample storage rooms,a 2-car attached garage. The outside laundry & storage rooms with best possibilities for ADU are utility ready with dry walls & windows.Buyer to Investigate feasibility, seller makes no guarantees and no warranties. The remaining 4 units are an ideal mix of two larger (over 1,100 sq. ft. ea) 3br,2bth U and two good-sized 2-br,1-bth U. Each unit boasts an excellent layout, individual water heaters, & separate metering for gas and electricity utilities, ensuring convenience & efficiency. Four units are occupied by tenants on month to month leases. Rent comparable reports indicate a positive upside & added investment potential. Property is not under city’s Rent Stabilization Ordinance (RSO), but subject to State Rent Control AB1482 & Just Cause Ordinance (JCO). Buyer to investigate, seller makes no guarantees & no warranties. Total 10 parking spaces,3 covered spaces, 5 open parking spaces & a 2 car garage. Great Owner user building. Residents benefit from an array of culinary delights, cultural experiences, & artistic exhibitions for investors,owner or professionals, further enriching the allure of this investment opportunity. Now is the time to seize this exceptional offering in one of Los Angeles’ most dynamic and sought-after neighborhoods.
|
DAYS ON MARKET
|
151
|
LAST UPDATED
|
8/16/2024
|
|
YEAR BUILT
|
1992
|
COMMUNITY
|
Silver Lake - Echo Park
|
|
GARAGE SPACES
|
2.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
See Remarks |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Dishwasher, Disposal, Free-Standing Range, Water Heater |
| AREA |
Silver Lake - Echo Park |
| CONSTRUCTION |
Drywall |
| EXTERIOR |
Rain Gutters |
| GARAGE |
Assigned, Attached Carport, Carport, Concrete, Covered, Detached Carport, Direct Access, Door-Single, Garage, Garage Faces Front, On Site, One Space, Paved, Yes |
| HEAT |
Central, Combination, Wall Furnace |
| HOA DUES |
0 |
| INTERIOR |
Balcony, Jack and Jill Bath, Primary Suite, Storage, Walk-In Closet(s) |
| LOT |
7428 sq ft |
| LOT DESCRIPTION |
No Landscaping, Rectangular Lot |
| PARKING |
Attached Carport,Assigned,Concrete,Covered,Carport,Detached Carport,Direct Access,Door-Single,Garage Faces Front,Garage,On Site,Paved,One Space |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
3 |
| STYLE |
Custom |
| UTILITIES |
Electricity Available,Natural Gas Connected,Sewer Connected,Water Available |
| VIEW |
Yes |
| VIEW DESCRIPTION |
City Lights,Neighborhood |
| WATER |
Public |
| ZONING |
LARD1.5 |
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Listed with RE/MAX PREMIER/SANMARINO
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 10/31/24 4:14 AM 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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