Property listed by Marcus & Millichap, Jason Tuvia 818-212-2700
$1,650,000
We are pleased to present an eight (8) unit apartment building located at 1331 Sutherland Street in Los Angeles, California. The subject property is located in a prime Echo Park location, north of Sunset Boulevard and east of Alvarado Street. Located in a prime Echo Park neighborhood, this rare multifamily… Read More offering features an attractive unit mix of six one-bedroom units and two two-bedroom units, with three units delivered vacant ready to be renovated. The property boasts exceptional rental upside of over 60%, supported by fully on-site parking and a highly sought-after opportunity to convert both tuck-under and open parking areas into 5+ ADUs. There is also a vacant laundry room. Long held by the original developer's family since 1965, the building presents a unique value-add canvas enhanced by wonderful city views from select units. The property is located just north of Sunset Boulevard and within walking distance to local bars, restaurants, and Echo Park nightlife. Being offered for the first time since the building was built in the 1960's with three vacant units, 1331 Sutherland Street offers an investor an ideal value add opportunity with great ADU potential. Read Less
Listing Snapshot
Days Online
0
Last Updated
Beds
10
Square Ft.
5,644
Lot Size
0.17 Acres
Year Built
1967
MLS Number
26633659
Additional Details
Building
Built in 1967, Living area: 5644.0, 1 building, Levels: Two
Income
Gross Income: $140,484, Net Operating Income: $86,113
Lot
0.1652 acres
Parking
Covered, Uncovered
Taxes
Parcel Number: 5406001038, Zoning: LARD2
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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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