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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$4,300,000

Est. payment - /mo

0.5 Acres Lot

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Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID PF26016505

HOA Y/N No

Year Built 1923

Lot Size 0.499 Acres

Property Sub-Type Mixed Use

Property Description

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. Property is offered at a current 5.1% CAP rate with room to grow the rents as they are month to month leases. Don't miss this opportunity!

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LARD1.5

Interior

Fireplace No

Laundry Laundry Room

Exterior

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Park, Street Lights, Urban

Total Parking Spaces 3

Private Pool No

Building

Lot Description 16-20 Units/Acre

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5406011022

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Trust

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Listed by Stephen Biskup Sotheby's International Realty 626-428-6010, DRE #01854478

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1303 Lilac TER Los Angeles, CA 90026