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A 16-unit bread-and-butter Value-Add Opportunity in Rampart Village neighborhood. The property has been with the same ownership for more than 25 years. It is located on a side residential street and centrally situated only several blocks south of Silver Lake area and Silver Lake Blvd. Bordering Silver Lake, Echo Park, and Koreatown area, this location provides consistently high demand for apartment units. The offering provides an attractive high CAP Rate with proforma CAP Rate close to 10%. Built in 1927, the property offers large building size totaling ±9,240 SF of square footage on a sizeable ±6,000 SF lot. The property is an easily maintained two-story building, with a good unit mix of four (4) x 1bed+1bath, and twelve (12) large studios. It has an unusually wide hallway area which provides a good common area atmosphere to the building. The building has been well maintained by the current owner with some notable capital improvements in recent years which include electrical panels upgrade, and a foundation strengthening recently.Each unit offers a spacious and functional layout which includes large full kitchens & bathroom (with bathtub) with a large closet space (some are walk-in closets). Some units have been somewhat updated with vinyl wood flooring, and updated kitchen. Studio units are spacious with an estimated size around 400-500 SF each (buyer to verify). Two of the studios are vacant and may be delivered vacant.The property has a basement that is being used as a shared laundry room and master water heater area. Laundry machines are leased. The property has a secure entrance, is master metered for utilities and water, and has a flat roof. Centrally located in Rampart Village area and only blocks away from Silver Lake area and Silver Lake Blvd, this property is adjacent to Echo Park, Koreatown and only minutes away Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Koreatown, Silver Lake, Echo Park, Central Los Angeles, Melrose Hill, East Hollywood, Historic Filipino town, and Angelino Heights.
Property Type(s):
Residential Income
| Last Updated | 2/25/2025 | Year Built | 1927 |
|---|---|---|---|
| Community | Silver Lake - Echo Park | County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Range |
| AREA | Silver Lake - Echo Park |
| GARAGE | None |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| LOT | 6000 sq ft |
| LOT DESCRIPTION | Level, Near Public Transit, Rectangular Lot, Street Level |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| UTILITIES | Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected, Electric: Standard |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LAR3 |
Location
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Listed with Growth Investment Group Pasade
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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