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Multifamily

1242 Lilac Place

1242 Lilac Pl, Los Angeles, CA 90026

Listing Price: $1,050,000

Cap Rate
3.00%
Number of Units
7
GRM
14.29
Price/Unit
$150,000
Price/Gross SF
$228.06
Gross SF
4,604

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a seven-unit apartment building located at 1242 Lilac Place in Los Angeles, CA. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket.

Over the past decade, Echo Park has become one of the most desirable neighborhoods for renters in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents on the Eastside of L.A.

Situated on a 5,548 square foot parcel, the property comprises of five studios and two one-bedroom units. New ownership can potentially add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential.

The property’s desirable location, north of Sunset Boulevard coupled with the significant value-add potential and attractive basis makes 1242 Lilac an excellent acquisition opportunity for investors.

Investment Highlights

  • There is 75 Percent Remaining Rental Upside Through Interior Renovations – Not Including Potential ADU Income
  • Extremely Attractive Basis of $150,000/Unit - The Lowest Price/Unit of Any Multi-Family Property Being Sold in Echo Park Under 50 Units
  • New Ownership can Potentially Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciate Potential – Buyer to Verify
  • Located in a Highly Desirable Sub-Market Within Echo Park - Residents Enjoy Convenient Access to Employment Centers, Retail, Nightlife and Entertainment

Exclusively Listed By

Financing By

Multifamily

1242 Lilac Place

Listing Price: $1,050,000

Cap Rate
3.00%
Number of Units
7
GRM
14.29
Price/Unit
$150,000
Price/Gross SF
$228.06
Gross SF
4,604

Investment Highlights

  • There is 75 Percent Remaining Rental Upside Through Interior Renovations – Not Including Potential ADU Income
  • Extremely Attractive Basis of $150,000/Unit - The Lowest Price/Unit of Any Multi-Family Property Being Sold in Echo Park Under 50 Units
  • New Ownership can Potentially Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciate Potential – Buyer to Verify
  • Located in a Highly Desirable Sub-Market Within Echo Park - Residents Enjoy Convenient Access to Employment Centers, Retail, Nightlife and Entertainment

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a seven-unit apartment building located at 1242 Lilac Place in Los Angeles, CA. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket. Over the past decade, Echo Park has become one of the most desirable neighborhoods for renters in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents on the Eastside of L.A. Situated on a 5,548 square foot parcel, the property comprises of five studios and two one-bedroom units. New ownership can potentially add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential. The property’s desirable location, north of Sunset Boulevard coupled with the significant value-add potential and attractive basis makes 1242 Lilac an excellent acquisition opportunity for investors.

Exclusively Listed By

Financing By

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