Welcome to 1917 Montrose -- an investor's dream property in the heart of hip, vibrant Echo Park! This 16 unit mid-century apartment complex is an incredible value add opportunity. All units are approximately 600 square foot, one-bedroom/one bathroom floor plans. Centrally located, this property sits around the corner from renowned Sunset Boulevard and historic Alvarado Street, just feet from Echo Park's hot entertainment spots. It's a stone's throw from Echo Park Lake and within easy reach of Silver Lake, Los Feliz, Elysian Park and Dodger Stadium. This property is ripe with value-added income potential and includes resident parking. Priced to sell at $175,000/unit, the property has a market cap rate of 12.8 - unheard of in Los Angeles! Separately metered for gas and electric, there is also a common area in the back of the property. With every conceivable amenity within walking distance, this property will be a crown jewel in any investor portfolio.
- Property Type: Residential Income
- Status: Pending
- Style: Mid Century
- Year Built: 1962
- Appliances: Dryer, Washer
- Assessed Improvement Value: 918000
- Assessed Land Value: 2101200
- Bathroom Features: Shower Over Tub
- Common Walls: Attached
- Cooking Appliances: Range, Oven-Gas
- Cooling Type: Wall Or Window Units
- Exterior: Stucco
- Fireplace Rooms: None
- Flooring: Hardwood
- Garage Spaces Total: 1.0
- Heating Fuel: Wall Gas
- Heating Type: Wall Gas
- Levels: Two Level
- Listing Terms: Cash
- Lot Location: City
- Lot Sqft: 14258
- Num Of Units: 16
- Number Of Buildings: Yes
- Price Per Sqft: 286.12
- Property Subtype: Apartment Building
- Rooms: LivingRoom
- Special Conditions: Standard Sale
- Neighborhood: Silver Lake - Echo Park, Greater Echo Park Elysian, East La
Courtesy of: Tiao Properties, Inc.
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Updated: 23rd February, 2020 6:40 PM.