Los Angeles, CA 90039 1922 Lake Shore Avenue
$1,495,000
0 more
Presented By: Sean Rosenzweig with Marcus & Millichap;
Home Details
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. 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. There is 27% 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.
Presented By: Sean Rosenzweig with Marcus & Millichap;
Interior Features for 1922 Lake Shore Avenue
Bedrooms
Total Bedrooms4
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths4
Other Interior Features
LivingAreaSourceAssessor
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Total Stories2
General for 1922 Lake Shore Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate4.0
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Days on Market8
DirectionsEast of Alvarado Street & South of Baxter Street
Full Baths
Garage Y/NNo
Gross Income87384.0
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo, MultiSplit
Lot Size Square Feet9999.0
Lot Size UnitsSquareFeet
MLS AreaC21 - Silver Lake - Echo Park
MobileHomeRemainsYNNo
Net Operating Income59744.0
New ConstructionNo
NumberOfUnitsTotal3
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
View Y/NNo
Waterfront Y/NNo
Year Built1903
Year Built SourceAssessor
ZoningLAR1
Exterior for 1922 Lake Shore Avenue
Building Area Total2302.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.2295
Lot Size Area9999.0
Lot Size SourceAssessor
Number of Buildings2
Open Parking Y/NNo
Parking FeaturesNone
SpaNo
Total Parking3.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480