Courtesy of: Remax Commercial And Investment Realty
Days On Market: 43
Year Build: 1916
Address: 1817 Bellevue
County: Los Angeles
City: Los Angeles
Neighborhood: C21 - Silver Lake - Echo Park
We are pleased to present for sale, "The Echo Park Bungalows" a rare 8 Unit Spanish Style Multifamily investment opportunity in Echo Park, one of LA's hottest rental locations! For the first time on the market in 19 Years, 1817 Bellevue, offers investors a robust in place return of 5.02% Cap Rate and 3.9%Cash-on-Cash return (with Chase Assumable Financing Available), while having a 45% Upside Potential. 6 of the 8 units are completely detached Bungalows with in-unit laundry each comprised of spacious studio units, with (1) bungalow currently being renovated and delivered vacant. 2 of the 8 units are spacious 2 Bedroom & 1 Bathroom Town Home Units situated at the rear of the lot. The Echo Park Bungalows are built in 1916 and have a total square footage of 2,716 SF, situated on a lot size of 5,611, and zoned RD1.5.The property is strategically positioned on a high point, providing stellar views of DTLA to high-paying tenants. The investment has been well taken care of with select units having new floors and stainless steel appliances. Located in a vibrant and lively nightlife scene and walking distance to Echo Park Lake and Famous Sunset Blvd's retail corridor which is home to a number of trendy bars, retail, and coffee shops. The Echo Park Bungalows are considered "Walkers Paradise" with a (96) walk-score, where daily errands don't require a car. This rare opportunity is poised for an investor looking to capture strong in place returns on a supply-constrained product in a booming area where prices have appreciated Year-over-Year." The Echo Park Bungalows" might be a once in a lifetime life opportunity to acquire. Buyer to conduct any/all due diligence including but not limited to the square footage, lot size, and zoning. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.
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