1303 Lilac Terrace,Los Angeles, CA 90026
Los Angeles, CA 90026
Description
A great investment opportunity awaits you at 1303 Lilac Terrace in the Echo Park area of Los Angeles. This quiet area is rapidly growing & gentrifying in Northeast LA adjacent to Dodger Stadium & Silverlake. The property sits on a large half acre lot of 21,717 square feet and consists of 10 bungalow individual buildings. There are 9- 1bed/1bath units and 1- 2bed/1bath unit each with a living room in separate Spanish styled Bungalows totaling 5975 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 remodeling of the bungalows. All units are separately metered for gas & electricity and trash which are 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. and has room for expansion of more buildings. Property is offered at a current 5.1% CAP rate with room to grow the rents as they are month to month leases. Seller is willing to carry the loan at a substantial downpayment. Don’t miss this opportunity!
Details
| MLS # | PF26016505 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 219 |
| Listing Provided By | Sotheby's International Realty | Stephen Biskup |
Features
| SQ Feet | 5,975 |
|---|---|
| Garage | 3 |
| Story(s) | 1 |
| Units | 10 |
| Building(s) | 9 |
| Zoning | LARD1.5 |
| Acreage | 0.50 |
Exterior
| Lot Features | Sixteen To Twenty Units Acre |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Park, Street Lights, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90026 |
| Area | C21 Silver Lake Echo Park |
| Listing VS Median (in 90026) | |
Price: $4,300,000 low | high Med: $999,000 sqft: 5,975 low | high Med: 3,356 $ / sqft: $720 low | high Med: $298 On site: 219 low | high Med: 113 | |
Market Activity 90026
Request a showing
Request a showing
Contact
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: $4,300,000 low | high Med: $999,000 sqft: 5,975 low | high Med: 3,356 $ / sqft: $720 low | high Med: $298 On site: 219 low | high Med: 113 | |
 | $4,300,0001303 Lilac TerraceLos Angeles, CA 90026 |