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Prime investment opportunity in the heart of Chinatown! Lot is LAR4 with TOC Tier 3 for high density development! The existing 7-unit apartment building is situated in an unbeatable location, steps away from schools, bus stations, banks, restaurants, grocery stores, and much more. Just minutes from the bustling hub of Downtown Los Angeles, this property offers unparalleled convenience and accessibility. Property under the process of Ellis Act Evictions - completed by early 2025 so you have the option of redeveloping the lot and increase density or keeping the apartment with existing tenants. The apartment is fully occupied with long-term tenants, providing a stable income stream. Current rents are under market value with the opportunity for increased ROI with future adjustments. Property is under RSO currently. Whether you're looking to expand your portfolio or secure a solid income-producing asset, this property is a rare find in one of LA's most sought-after neighborhoods. Don't miss the chance to own a cornerstone of this vibrant and historic community. Please DO NOT DISTURB TENANTS! DRIVE BY ONLY!
Property Type(s):
Commercial
| Last Updated | 12/3/2024 | Year Built | 1973 |
|---|---|---|---|
| Community | Silver Lake - Echo Park | County | Los Angeles |
Additional Details
| AIR CONDITIONING | Yes |
|---|---|
| AREA | Silver Lake - Echo Park |
| CONSTRUCTION | Stucco |
| HOA DUES | 0 |
| LOT | 9168 sq ft |
| UTILITIES | Electric: Standard |
| ZONING | LAR4 |
Location
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Listed with Coldwell Banker Exclusive
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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