Description
Private, charming, turnkey investment. Nestled behind a tall privacy hedge in the Angelino Heights HPOZ, sits 7 individual, well-maintained Craftsman bungalows, each with their own private deck and outdoor space. These units were fully renovated and converted into open concept studios with vaulted ceilings, exposed beams and wood floors and windows. Because of its location in prime Echo Park, it's proximity to high-end amenities (newly renovated Echo Park lake, Lassen's, and multiple bars and restaurants), these units are rarely vacant. Well maintained but there's room for improvement with in-unit washer dryers and central HVAC. Newer roof, sewer, kitchens, and decks. Shown by appointment. Scheduled rent (as of 2/1/24) for all 7 units: $14,289/mo. GOI (2/1/24) $171,471.60/yr. Projected rent with improvements: $206,400/yr. Cap rate is based on property taxes at $2.4M. 6 of the bungalows are identical. The 7th bungalow at the end of the property is larger with an additional yard space.
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7BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
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3,144SQFT
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$763$/SQFT
School Ratings & Info
Description
Private, charming, turnkey investment. Nestled behind a tall privacy hedge in the Angelino Heights HPOZ, sits 7 individual, well-maintained Craftsman bungalows, each with their own private deck and outdoor space. These units were fully renovated and converted into open concept studios with vaulted ceilings, exposed beams and wood floors and windows. Because of its location in prime Echo Park, it's proximity to high-end amenities (newly renovated Echo Park lake, Lassen's, and multiple bars and restaurants), these units are rarely vacant. Well maintained but there's room for improvement with in-unit washer dryers and central HVAC. Newer roof, sewer, kitchens, and decks. Shown by appointment. Scheduled rent (as of 2/1/24) for all 7 units: $14,289/mo. GOI (2/1/24) $171,471.60/yr. Projected rent with improvements: $206,400/yr. Cap rate is based on property taxes at $2.4M. 6 of the bungalows are identical. The 7th bungalow at the end of the property is larger with an additional yard space.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-12-03T20:34:03.333. 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 Twiss Realty Group - Brokered by EXP. Licensed in the State of California, USA.