Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

10

Building size

5,975 sqft

Lot size

21,718 sqft

Year built

1923

Stories

1

Garage spaces

3

Pool

None

Status

Active

Days on market

206

MLS #

240318535

About this property

A great investment opportunity awaits you at 1303 Lilac Terrace in the Echo Park area of Los Angeles. This quiet area is rapidly growing & gentrifying in Northeast LA adjacent to Dodger Stadium & Silverlake. The property sits on a large half acre lot of 21,717 square feet and consists of 10 bungalow individual buildings. There are 9- 1bed/1bath units and 1- 2bed/1bath unit each with a living room in separate Spanish styled Bungalows totaling 5975 Sq. Ft. of living space. Many of the bungalows have private fenced front yards. 8 of the bungalows have their own basement and laundry. All buildings have original oak hardwood flooring, tiled kitchen counters and $50,000 was spent on the remodeling of the bungalows. All units are separately metered for gas & electricity and trash which are paid by the tenants. There is plenty of parking for tenants and guests besides the 3 enclosed single car garages. The 2bed/1bath bungalow has its own large and secluded backyard. This prime land also has more opportunity for additional development. The property is zoned LARD 1.5. and has room for expansion of more buildings or conversion into condos. Property is offered at a current 5.1% CAP rate with room to grow the rents as they are month to month leases. Seller is willing to carry the loan at a substantial down payment. Don’t miss this opportunity!

Location

1303 Lilac Terrace

Los Angeles, Los Angeles, CA, 90026