Sean Rosenzweig
Marcus & Millichap
310-909-5500
We are pleased to offer for sale a three-unit apartment community located at 1922-1924.5 Lake Shore Avenue. The subject property is located east of the Glendale Freeway and north of Sunset Boulevard. The property is located in Elysian Heights, which is typically characterized as being part of Echo Park & near Silver Lake. This submarket's popularity has grown significantly over recent years, with a vibrant and lively nightlife scene and trendy retail and coffee shops in the immediate area. With rent growth and developments in the area, the location has been catering to families, young professionals and artists alike in recent years. The property is situated on a large 9,999 square foot parcel and is comprised of two one-bedroom units and one two-bedroom unit. One unit will be delivered vacant allowing new ownership to immediately renovate and rent the unit out for a market rental rate. There is 24% remaining rental upside that new ownership can capture through interior renovations. Taking into consideration the desirable location and remaining value-add components, 1922-1924.5 Lake Shore Avenue is well suited to provide investors with healthy returns and long-term appreciation potential.
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Total Bedrooms : 4
Total Baths: 4
Full Baths: 0
Half Baths: 0
Year Built: 1903
Building Area Total: 2,302
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2295
Lot Size Source: Assessor
Lot Size Square Feet: 9999
Original List Price: 1,495,000
Listing Contract Date: 2024-04-04
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5420010015
Garage Description: None
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C21 - Silver Lake - Echo Park
Postal Code Plus 4: 3925
Directions: East of Alvarado Street & South of Baxter Street
Zoning: LAR1
Source Property Type: Residential Income
Area: C21 - Silver Lake - Echo Park
Property Age: 121
Year Built Source: Assessor
Total Square Feet Living: 2302
Levels or Stories: Two,Multi/Split
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
3615 Edenhurst Avenue, Los Angeles, CA,90039 | $1,725,000 | 2 | -- | 1,420 | 3567 Sqft |
1919 Rosebud Avenue, Los Angeles, CA,90039 | $350,000 | -- | -- | -- | 10205 Sqft |
2803 Denby Avenue, Los Angeles, CA,90039 | $950,000 | -- | -- | 1,029 | 4324 Sqft |
3722 Dover Street, Los Angeles, CA,90039 | $1,100,000 | -- | -- | 1,866 | 6750 Sqft |
2250 Duane, Los Angeles, CA,90039 | $1,680,000 | -- | -- | 3,236 | 7784 Sqft |
2635 Adelbert Avenue, Los Angeles, CA,90039 | $2,249,000 | 4 | 3 | 2,614 | 2465 Sqft |
1 Edendale Place, Los Angeles, CA,90039 | $285,000 | -- | -- | -- | 4811 Sqft |
2643 Glendale Boulevard, Los Angeles, CA,90039 | $2,850,000 | 3 | 1 | 1,380 | 15216 Sqft |
4123 Edenhurst Avenue #1, Los Angeles, CA,90039 | $1,799,000 | 5 | 4.5 | 3,296 | 5176 Sqft |
Earl Court, Los Angeles, CA,90039 | $148,900 | -- | -- | -- | 4993 Sqft |
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ByOwner last updated this listing 06/02/2024 @ 19:23
MLS: 24376363
LISTED BY: Sean Rosenzweig, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.