1922 Lake Shore Ave - Multi-Family FOR SALE


Los Angeles, CA 90039
$1,395,000 USD
213-943-1897
1922 Lake Shore Ave, Los Angeles, CA for Sale
$1,395,000 USD
Multi-Family - FOR SALE
1/6
null | 4.37% Cap Rate

1922 Lake Shore Ave
Los Angeles, CA 90039


HIGHLIGHTS

  • Situated on a 9,999-Square-Foot Lot, the Property Aligns with Today's Renters' Needs: Low Density and Large Outdoor Space
  • Current Ownership has Attentively Maintained the Property
  • Located in Desirable Elysian Heights, Echo Park, Near Silver Lake, Offering Convenient Access to Employment, Retail, and Entertainment
  • Family Owned and Operated for the Last 13 Years
  • On-Site Parking with No Seismic Retrofit Requirements
  • There is 27 Percent Remaining Rental Upside Through Interior Renovations

OVERVIEW

DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. Marcus & Millichap, as the exclusive listing agent, is 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 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.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$606 USD /SF

# OF UNITS

3

PRICE/UNIT

$465,000

CAP RATE

4.37%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

A 3-Unit in Prime Echo Park

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1903

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,999 SF

ZONING

LAR1

APN/PARCEL ID

5420-010-015

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.