Property listed by Marcus & Millichap, Sean Rosenzweig 310-909-5500
$1,395,000
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. We are pleased to offer for sale a three-unit apartment community located at 1922-1924.5 Lake Shore Avenue. The subject property is located east of the Glendale Freeway and north of Sunset Boulevard. The property… Read More is located in Elysian Heights, which is typically characterized as being part of Echo Park & near Silver Lake. This submarket's popularity has grown significantly over recent years, with a vibrant and lively nightlife scene and trendy retail and coffee shops in the immediate area. With rent growth and developments in the area, the location has been catering to families, young professionals and artists alike in recent years. The property is situated on a large 9,999 square foot parcel and is comprised of two one-bedroom units and one two-bedroom unit. There is 27% remaining rental upside that new ownership can capture through interior renovations. Taking into consideration the desirable location and remaining value-add components, 1922-1924.5 Lake Shore Avenue is well suited to provide investors with healthy returns and long-term appreciation potential. Read Less
Listing Snapshot
Days Online
237
Last Updated
Property Type
Other
Beds
4
Square Ft.
2,302
Lot Size
0.23 Acres
Year Built
1903
MLS Number
24440771
30 Days Snapshot Of 90039
$1.04M
-24%
(avg) sold price
6
-64%
homes sold
141
+93%
(avg) days on market
Snapshot
Area Map
Additional Details
Property
Zoning: LAR1
Building
Built in 1903, Building area total: 2,302, Levels: Two, MultiSplit, Living area: 2302, 2 stories, 2 buildings
Income
Gross income: $87,384, Net operating income: $60,944
Lot
0.2295 acres, 9,999 square feet, Size: 9,999
Parking
3 totals parking, None
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Based on information from California Regional Multiple Listing Service, Inc. as of 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.
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