Multifamily
1242 Lilac Place
1242 Lilac Pl, Los Angeles, CA 90026
Listing Price: $1,050,000
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 add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential – Permits are “RTI” Status.
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.
1242 Lilac Place
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 Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciation Potential – Permits are "RTI" Status
- 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
Listing Price: $1,050,000
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 Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciation Potential – Permits are "RTI" Status
- 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 add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential – Permits are “RTI” Status. 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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