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1046 Laguna Ave

Los Angeles, CA 90026
  • $1,998,000
  • STATUS: Active
  • ON SITE: 69 Days
  • MLS #: 22-136569
UPDATED: 60 min ago
$1,998,000
  • 7
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,250
    SQFT
  • $615
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1922
County:

School Ratings & Info

Description

(5) unit apartment community located in Echo Park. LOCATON! LOCATION! LOCATION! Located just up the street from Echo Park Lake, and the hip restaurant, shopping, and entertainment options on Sunset Blvd, both only a 5-minute walk away. This is a charming craftsman style property that sits perched on a hillside with views of the City. This (5) five-unit property consists of 3,250 SF and was built in 1920/1922, which sits on a 5,517 SF lot. The unit mix consists of (2) Singles, (1) 1-bedroom/1-bath, and (2) 2-bedroom/1-bath. The apartments are well maintained and feature hardwood floors, private entrances, decks/patios, fireplaces and clawfoot tubs. All units have their own washers/dryers and individual water heaters. The units are also individually metered all utilities significantly reducing operating expenses. Additionally, there are a total of five (5) garages, which include a detached parking garage in the rear alley which could be rented as parking/storage to generate additional income. The parking structure may also offer ADU potential, buyer to verify. No soft-story retrofit is required, and the property just passed its SCEP inspection. There are no COVID balances or delinquencies. The property boasts an 88 Walk Score, "Very Walkable". This value-add opportunity is attractively priced at a going-in 4.79% Cap Rate and 6.48% Pro Forma Cap Rate.* This property is part of a 3-property portfolio consisting of 14 units in total. All properties can be purchased together or individually.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T06:44:22.227. 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.
www.markwiseproperties.com/homes/126731742
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1046 Laguna Ave Los Angeles, CA 90026

  • Price: $1,998,000
  • Status: Active
  • On Site: 69 Days
  • Updated: 60 min ago
  • MLS #: 22-136569
7
Beds
0
Baths
0
½ Baths
0.13
Acres
3,250
SQFT
$615
$/SQFT
1922
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
(5) unit apartment community located in Echo Park. LOCATON! LOCATION! LOCATION! Located just up the street from Echo Park Lake, and the hip restaurant, shopping, and entertainment options on Sunset Blvd, both only a 5-minute walk away. This is a charming craftsman style property that sits perched on a hillside with views of the City. This (5) five-unit property consists of 3,250 SF and was built in 1920/1922, which sits on a 5,517 SF lot. The unit mix consists of (2) Singles, (1) 1-bedroom/1-bath, and (2) 2-bedroom/1-bath. The apartments are well maintained and feature hardwood floors, private entrances, decks/patios, fireplaces and clawfoot tubs. All units have their own washers/dryers and individual water heaters. The units are also individually metered all utilities significantly reducing operating expenses. Additionally, there are a total of five (5) garages, which include a detached parking garage in the rear alley which could be rented as parking/storage to generate additional income. The parking structure may also offer ADU potential, buyer to verify. No soft-story retrofit is required, and the property just passed its SCEP inspection. There are no COVID balances or delinquencies. The property boasts an 88 Walk Score, "Very Walkable". This value-add opportunity is attractively priced at a going-in 4.79% Cap Rate and 6.48% Pro Forma Cap Rate.* This property is part of a 3-property portfolio consisting of 14 units in total. All properties can be purchased together or individually.
Exterior Features

Lot Size Area 5517 Other Structures Accessory Bldgs Parking Garage Detached Style Craftsman Total Parking 5

Interior Features

Baths Total 5.00 Cooling Other Equipment FreezerDryerWasherRefrigeratorRange/Oven Heating Other Laundry OutsideIn UnitInside

Property Features

Assessed Total Value 79877 Gross Income 127884 Gross Operating Income 127884 Like Units1 2 Like Units2 1 Like Units3 2 Net Operating Income 95779.00 Number Of Buildings 2 Number Of Units 5 Rent Control YN Yes Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays ElectricityGasWaterTrash Collection Total Annual Expense 30826 Type Of Units Apartments Water Heaters YN Yes Year Built Source Assessor Zoning Lard2

Listing provided courtesy of David Pearl DRE#01963469 of Kw Advisors.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T06:44:22.227. 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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Mark Wise | Bennion Deville Homes
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