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Listing Details

Status
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On Site
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On Market
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MLS #
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Neighborhood
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Type
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Built
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School Ratings & Info

Description

Rare opportunity to purchase a relatively new construction apartment building across from Echo Park. A prospective buyer has the opportunity to purchase an apartment building subject to AB 1482 rent control which allows for 5% + CPI annual rent increases. The property offers an outstanding unit mix of studio, two-bedroom, & three-bedroom units & approximately 40% upside in rental income. The studio unit measures approximately 970 square feet and was originally a recreation room. Current owners are in the process of receiving approval permits to convert the recreation room into a legal studio, accessory dwelling unit (ADU). Lastly, the three-bedroom/three-bathroom plus a den unit is being operated as a fourth bedroom.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T12:29:02.607. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
www.sellinglasouthbay.com/homes/119547110
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827 Glendale Boulevard Los Angeles (City), CA 90026

  • Price: $3,300,000
  • Status: Active
  • Updated: 10 min ago
  • ID#: 21763560
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1988
Built
Neighborhood:
671 - Silver Lake
County:
Los Angeles
Area:
671 - Silver Lake
Property Description
Rare opportunity to purchase a relatively new construction apartment building across from Echo Park. A prospective buyer has the opportunity to purchase an apartment building subject to AB 1482 rent control which allows for 5% + CPI annual rent increases. The property offers an outstanding unit mix of studio, two-bedroom, & three-bedroom units & approximately 40% upside in rental income. The studio unit measures approximately 970 square feet and was originally a recreation room. Current owners are in the process of receiving approval permits to convert the recreation room into a legal studio, accessory dwelling unit (ADU). Lastly, the three-bedroom/three-bathroom plus a den unit is being operated as a fourth bedroom.
Exterior Features

Parking Features Garage

Interior Features

Appliances DishwasherMicrowave Cooling Central Air Cooling YN Yes Flooring Laminate Heating Central Heating YN Yes

Property Features

Community Features Gated Garage YN Yes Gross Income 188628 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 123147 Rent Control YN No Security Features Security GateGated CommunityKey Card Entry Senior Community YN No Special Listing Conditions Standard Zoning Lard2

Listing provided courtesy of Andres Diaz of Keller Williams Downtown La


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T12:29:02.607. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
 
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Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
23670 Hawthorne Blvd. #100
Torrance CA, 90505