Property listed by KW Commercial Studio City, Nick Astrupgaard 818-432-1500
$2,700,000
830 N Edgeware Road presents the opportunity to acquire a fully renovated, character-rich seven-unit multifamily property in Echo Park's historic Angelino Heights neighborhood. The property is uniquely configured with a five-unit apartment building and two detached single-family bungalows, offering a mix of traditional multifamily income and highly desirable residential-style units.… Read More A particularly compelling feature is its favorable rent-control profile. The City of Los Angeles has formally determined that the five apartment units at 830 Edgeware are not subject to the Los Angeles RSO, as the structure was converted from commercial to residential use after the applicable RSO cutoff date. The two detached bungalows at 832 and 832 1/2 Edgeware, originally constructed in 1910 and 1903, respectively, are subject to the RSO. This combination provides an investor with five non-RSO units alongside two distinctive bungalow residences with private yards. Ownership has completed extensive renovations and capital improvements, addressing many of the major systems and deferred-maintenance items typically associated with vintage Los Angeles multifamily properties. All seven residences have been renovated and feature in-unit washers and dryers, while multiple units offer private yards and four units include on-site parking. The documented permit history includes significant foundation and structural work, roof replacements, window replacement, exterior siding, insulation and drywall improvements, along with additional electrical work. The result is a substantially improved asset that retains the architectural character associated with Angelino Heights. The unit mix is exceptionally well suited to the surrounding rental market, consisting of a one-bedroom plus den, four two-bedroom units, a two-bedroom bungalow and a three-bedroom bungalow. Several residences also benefit from private outdoor space, including both detached bungalows. Located within the Angelino Heights HPOZ, 830 Edgeware combines historic residential character with a Los Angeles location. The property sits within the greater Echo Park market with convenient access to Downtown Los Angeles, Silver Lake, and surrounding employment, dining, entertainment, and recreational amenities. The combination of a low-density seven-unit configuration, renovated interiors, private outdoor space, two detached homes and five non-RSO apartments creates a differentiated offering within one of Los Angeles' established infill rental markets. Read Less
Listing Snapshot
Days Online
2
Last Updated
Beds
14
3/4 Baths
7
Square Ft.
6,853
Lot Size
0.26 Acres
Year Built
1903
MLS Number
26995097
Additional Details
Building
Built in 1903, Living area: 6853.0, 3 buildings, 2 stories, Levels: Two
Income
Gross Income: $254,700, Net Operating Income: $169,941
Lot
0.2626 acres
Parking
4 total parking spaces, Assigned, Garage, Tandem
Taxes
Parcel Number: 5405024023, 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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