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1607 Lake Shore Ave

Los Angeles, CA 90026
  • $2,998,000
  • STATUS: Active
  • ON SITE: 149 Days
  • ID#: 22-136597
UPDATED: 149 min ago
$2,998,000
  • 13
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,478
    SQFT
  • $669
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1931
County:

School Ratings & Info

Description

An extremely unique sprawling 6-unit property which features individual detached craftsman-style cottages which look and feel like single-family homes. Located in the heart of Echo Park ! 3 of the units sit along Lake Shore Drive and 3 units sit at the rear of the property along Lobdell Place. The addresses are 1607, 1611, 1613 Lake Shore Drive and 1608, 1612, 1614 Lobdell Place. This 4,478 SF property was built in 1931 and sits on a massive 11,900 SF lot zoned RD3-1VL. The unit mix consists of (2) 1-bedroom/1-bath, (3) 2-bedroom/1-bath and (1) 5-bedroom/2-bath. This property has been well maintained offers a ton of character. Unit features include ample outdoor space with front/back yards, decks/patios, hardwood floors and private entrances. All units have their own washers/dryers and individual water heaters. All units are individually metered for all utilities which substantially reduces operating expenses. No soft-story retrofit required and there are no COVID balances or delinquencies. The property boasts an 83 Walk Score, "Very Walkable". This value-add opportunity is attractively priced at a going-in 4.41% Cap Rate and 6.21% 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 2022-08-12T12:43:44.463. 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.trulinerealty.com/homes/126731746
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1607 Lake Shore Ave Los Angeles, CA 90026

  • Price: $2,998,000
  • Status: Active
  • On Site: 149 Days
  • Updated: 149 min ago
  • ID#: 22-136597
13
Beds
0
Baths
0
½ Baths
0.27
Acres
4,478
SQFT
$669
$/SQFT
1931
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
An extremely unique sprawling 6-unit property which features individual detached craftsman-style cottages which look and feel like single-family homes. Located in the heart of Echo Park ! 3 of the units sit along Lake Shore Drive and 3 units sit at the rear of the property along Lobdell Place. The addresses are 1607, 1611, 1613 Lake Shore Drive and 1608, 1612, 1614 Lobdell Place. This 4,478 SF property was built in 1931 and sits on a massive 11,900 SF lot zoned RD3-1VL. The unit mix consists of (2) 1-bedroom/1-bath, (3) 2-bedroom/1-bath and (1) 5-bedroom/2-bath. This property has been well maintained offers a ton of character. Unit features include ample outdoor space with front/back yards, decks/patios, hardwood floors and private entrances. All units have their own washers/dryers and individual water heaters. All units are individually metered for all utilities which substantially reduces operating expenses. No soft-story retrofit required and there are no COVID balances or delinquencies. The property boasts an 83 Walk Score, "Very Walkable". This value-add opportunity is attractively priced at a going-in 4.41% Cap Rate and 6.21% 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 11900 Other Structures None Parking Garage Detached Style Cottage Total Parking 1

Interior Features

Baths Total 7.00 Cooling Other Equipment DryerFreezerWasher Heating Other Laundry InsideIn UnitOutside Laundry Equipment Own

Property Features

Assessed Total Value 152984 Gross Income 179220 Gross Operating Income 179220 Like Units1 2 Like Units2 3 Like Units3 1 Net Operating Income 132083.00 Number Of Buildings 5 Number Of Units 6 Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays ElectricityGasWaterTrash Collection Total Annual Expense 45344 Type Of Units Apartments Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard3

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


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-12T12:43:44.463. 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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TruLine Realty
2999 Overland Ave., Suite 116
Los Angeles CA, 90064