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$ 970,000
Est. payment | /mo
2 Beds
7 Baths
4,604 SqFt
$ 970,000
Est. payment | /mo
2 Beds
7 Baths
4,604 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,604 sqft
Price per Sqft $210
MLS Listing ID 25582025
Bedrooms 2
HOA Y/N No
Year Built 1921
Lot Size 5,549 Sqft
Property Description
We are pleased to offer for sale a seven-unit apartment building located at 1242 Lilac Place in Los Angeles. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket. Over the past decade, Echo Park has become one of the most desirable neighborhoods for renters in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents on the Eastside of L.A. Situated on a 5,548 square foot parcel, the property comprises of five studios and two one-bedroom units. New ownership can add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential Permits are "RTI" Status. The property's desirable location, north of Sunset Boulevard coupled with the significant value-add potential and attractive basis makes 1242 Lilac an excellent acquisition opportunity for investors. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. The property is being sold as part of a two-building portfolio, including a five unit (1259 Vin Scully) directly adjacent, which is available individually or any combination as a portfolio purchase.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR4
Interior
Fireplace No
Exterior
Parking Features None
Total Parking Spaces 2
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5406012029
Special Listing Condition Standard
Listed by Sean Rosenzweig Marcus & Millichap