122 N Rampart Boulevard , Los Angeles, CA 90026
Los Angeles, CA 90026
Description
COPPER PLUMBING & SOFT-STORY RETROFIT COMPLETED...Fantastic 8-unit investment property located in the up and coming Rampart Village neighborhood, directly adjacent to Silverlake, Echo Park and Koreatown. The well-maintained mid-century apartment complex, built in 1960, offers a total of 4,446 square feet of living space on a 6,878 SF lot zoned R3, with a strong unit mix of (6) 1-bedroom/1-bath units and (2) 2-bedroom/1-bath units. The building features several recent upgrades: all above ground plumbing was replaced with copper, both soft-story retrofits were completed in 2018, the water heater was replaced in 2019, the driveway was recently re-paved, and all 9 seismic gas shut-off valves have been installed. The roof has also received regular annual maintenance. While the property is comprised of longer term tenants, about half of the units have been upgraded with new kitchens. There are two tuck-under parking areas at the front and back of the building with 12 spots in total (8 spots without tandem parking). The property is also separately metered for gas & electric. Lastly, there's an on-site laundry room which provides additional monthly income. The building has been under the same ownership for over 11 years and there is still 42% upside in rental income remaining. The property's various system upgrades and longer term tenants, combined with its excellent location near trendy neighborhoods and vibrant cultural hubs, make this a fantastic investment opportunity.
Details
| Mls | 24439995 |
|---|---|
| Listing Type | For Sale |
| Subtype | Resale |
| Status | Active Under Contract |
| Year | 1960 |
| Days On Site | 90 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. 310-425-9838 | Jake Glaser |
Features
| Beds | 10 |
|---|---|
| Baths | 8 |
| Sq Feet | 4,446 |
| Storys | 2 |
| Units | 8 |
| Buildings | 1 |
| Zoning | LAR3 |
| Acreage | 0.16 |
| Property View | None |
Market Activity 90026
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90026 |
| Area | C21 Silver Lake Echo Park |
| Listing VS Median (in 90026) | |
Price: $1,500,000 low | high Med: $995,000 SqFt: 4,446 low | high Med: 1,614 $ / SqFt: $337 low | high Med: $633 On Site: 90 low | high Med: 35.000000 | |
