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1303 N Lilac

Los Angeles (City), CA 90026
  • $4,050,000
  • STATUS: Active
  • ON SITE: 116 Days
  • ID#: PF21174154
UPDATED: 54 min ago
$4,050,000
  • 0
    BEDS
  • 0.5
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing provided courtesy of Stephen Biskup of Sotheby's International Realty

Description

A great investment opportunity awaits you at 1303 Lilac Terrace in the Echo Park/Silver Lake vicinity of Los Angeles. This quiet area is rapidly growing & gentrifying in Northeast LA adjacent to Dodger Stadium & DTLA. The property sits on a large half acre lot of 21,717 square feet and consists of 10 bungalow buildings. There are 9- 1bed/1bath units and 1- 2bed/1bath unit each with a living room in separate Spanish styled Bungalows totaling 6,000 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 reinforcement of the bungalows. All units are separately metered for gas & electricity and 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. Property is offered at a current 5.25% CAP rate with room to grow the rents as they are month to month leases. At a current 16.52 GRM dont miss this opportunity!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T21:29:04.5. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/120197114
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1303 N Lilac Los Angeles (City), CA 90026

  • Price: $4,050,000
  • Status: Active
  • On Site: 116 Days
  • Updated: 54 min ago
  • ID#: PF21174154
0
Beds
0
Baths
0
½ Baths
0.5
Acres
1923
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
A great investment opportunity awaits you at 1303 Lilac Terrace in the Echo Park/Silver Lake vicinity of Los Angeles. This quiet area is rapidly growing & gentrifying in Northeast LA adjacent to Dodger Stadium & DTLA. The property sits on a large half acre lot of 21,717 square feet and consists of 10 bungalow buildings. There are 9- 1bed/1bath units and 1- 2bed/1bath unit each with a living room in separate Spanish styled Bungalows totaling 6,000 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 reinforcement of the bungalows. All units are separately metered for gas & electricity and 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. Property is offered at a current 5.25% CAP rate with room to grow the rents as they are month to month leases. At a current 16.52 GRM dont miss this opportunity!
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 10 Open Parking Spaces 7 Parking Total 10 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Appliances Gas RangeRefrigeratorWater HeaterWasher Common Walls No Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Flooring Wood Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 5.25 Common Interest None Community Features BikingFoothillsHikingParkStreet LightsSidewalksUrban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 245136 Gross Scheduled Income 245136 Insurance Expense 3000 Land Lease YN No Laundry Features Washer HookupInsideSee Remarks Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New LoanConventional Maintenance Expense 7800 Net Operating Income 212736 New Construction YN No Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Number Of Units Leased 10 Operating Expense 32400 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 19756 Trash Expense 500 Water Sewer Expense 2500 Water Source Public Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T21:29:04.5. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing provided courtesy of Stephen Biskup of Sotheby's International Realty