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1121 Echo Park Avenue

Los Angeles (City), CA 90026
  • $3,870,000
  • STATUS: Active
  • ON SITE: 33 Days
  • ID#: 22148567
UPDATED: 49 min ago
$3,870,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1916
County:

School Ratings & Info

Listing Agent(s): Roderick 'Rick' Raymundo of Marcus & Millichap (213-943-1800)


Description

Situated just one parcel from Echo Park Lake and one block from Sunset Boulevard, the property offers tenants a prime location in the epicenter of this trendy submarket. With a unit mix comprised almost entirely of two bedroom units, the property's nine spacious floorplans cover approximately 9,798 square feet. The offering provides an investor with impressive cash flow for the area, with an initial CAP Rate of 4.69%. While similar properties in the area have sold for $600-$800 per square foot, 1121-1127 Echo Park Avenue is available for less than less than $395 per square foot. A new investor may benefit from reduced maintenance expenses, as the building does not appear on the LADBS seismic retrofit list (Buyer to verify). The property includes three buildings across the two parcels of land, which are zoned LAR3 and sit within a Tier 3 TOC (Buyer to verify). Given its close proximity to both Sunset Boulevard and Glendale Boulevard, the property allows tenants convenient access to some of Echo Park's trendiest shops and eateries. With Echo Park Lake immediately south of the property, tenants can enjoy the numerous benefits of one of Los Angeles' most popular parks.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T21:30:18.813. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/127905170
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1121 Echo Park Avenue Los Angeles (City), CA 90026

  • Price: $3,870,000
  • Status: Active
  • On Site: 33 Days
  • Updated: 49 min ago
  • ID#: 22148567
0
Beds
0
Baths
0
½ Baths
0.34
Acres
1916
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
Situated just one parcel from Echo Park Lake and one block from Sunset Boulevard, the property offers tenants a prime location in the epicenter of this trendy submarket. With a unit mix comprised almost entirely of two bedroom units, the property's nine spacious floorplans cover approximately 9,798 square feet. The offering provides an investor with impressive cash flow for the area, with an initial CAP Rate of 4.69%. While similar properties in the area have sold for $600-$800 per square foot, 1121-1127 Echo Park Avenue is available for less than less than $395 per square foot. A new investor may benefit from reduced maintenance expenses, as the building does not appear on the LADBS seismic retrofit list (Buyer to verify). The property includes three buildings across the two parcels of land, which are zoned LAR3 and sit within a Tier 3 TOC (Buyer to verify). Given its close proximity to both Sunset Boulevard and Glendale Boulevard, the property allows tenants convenient access to some of Echo Park's trendiest shops and eateries. With Echo Park Lake immediately south of the property, tenants can enjoy the numerous benefits of one of Los Angeles' most popular parks.
Exterior Features

Parking Features Assigned Parking Total 13

Property Features

Association Fee 0 Gross Income 258161 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 181564 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T21:30:18.813. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Roderick 'Rick' Raymundo of Marcus & Millichap (213-943-1800)