$ 1,590,000
-
$1,590,000
Price -
0
Bed -
0
Bath -
5,115
SqFt
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About the Listing 88068 - 815925
7 unit value-add apartment located in Glassell Park, one of the hottest neighborhoods of Los Angeles bordered by Glendale, Silver Lake, Eagle Rock, Highland Park, Cypress Park, Mt. Washington and Atwater Village. Its centralized LA County location provides extended proximity to Hollywood, Koreatown, Downtown LA, Monterey Park, Alhambra and Pasadena. It is a hilly neighborhood with modest homes and fashionable neighbors, serviced by many locally owned eateries, coffee shops and shopping boutiques. Residents are further benefited by public transportation and quick access to the 2 and 5 Freeways. This continually flourishing sub-market coupled with a property generating income well-below market, presents an investor with a considerable opportunity worth seizing. In recent years the owners have spent significant funds in improving the property. In addition, seismic gas shut-off valves and completing soft-story seismic retrofit (permitted 03/2020) was also completed. There are 7 parking spaces equally assigned to each unit. There is a dedicated on-site laundry room, which currently has no machines. Charging for parking and providing laundry machines are opportunities to immediately enhance yield. Additionally, market rents are projected at $2,100 for all the 2BR units after full renovation, which equates to 120% in rental upside. The property is subject to The City of LA Rent Stabilization Ordinance (RSO).
Listing Highlights
Status
Active
Days on Site
34
Property Type
Multi-Family
MLS ®
PTP2603204
Year Built
1963
Total Square Footage
5,115
Lot/Acreage
0.17
County
Los Angeles
Area
623 - Glassel Park
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Front Yard,Landscaped,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: R1-1-CDO
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5457019026
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
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Questions About..
2677 Moss Ave Los Angeles, CA 90065
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