Multifamily
1242 Lilac Place
1242 Lilac Pl, Los Angeles, CA 90026
Listing Price: $970,000
Investment Overview
The SR Group of 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. 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.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
The property is being sold as part of a two-building portfolio, including a five unit (1259 Vin Scully) directly adjacent, which is available individually or any combination as a portfolio purchase.
1242 Lilac Place
Investment Highlights
- There is 144 percent remaining rental upside through interior renovations – not including potential ADU income
- Being offered for sale at an extremely attractive basis of $138,571 per unit and $211 per square foot, which is the lowest price per unit of any Multi-Family property being sold in Echo Park
- Prime Echo Park location with convenient access to jobs, retail, nightlife, and entertainment in Echo Park, Silver Lake, and Downtown LA
- RTI-approved plans for a 1B/1B ADU provide a shovel-ready path to new income and appreciation. Additional garage conversion plans to a studio ADU are also pending (Buyer to verify)
- The 2028 Summer Games are expected to boost LA's real estate market through major infrastructure, neighborhood, and venue upgrades
Exclusively Listed By
Financing By
Listing Price: $970,000
Investment Highlights
- There is 144 percent remaining rental upside through interior renovations – not including potential ADU income
- Being offered for sale at an extremely attractive basis of $138,571 per unit and $211 per square foot, which is the lowest price per unit of any Multi-Family property being sold in Echo Park
- Prime Echo Park location with convenient access to jobs, retail, nightlife, and entertainment in Echo Park, Silver Lake, and Downtown LA
- RTI-approved plans for a 1B/1B ADU provide a shovel-ready path to new income and appreciation. Additional garage conversion plans to a studio ADU are also pending (Buyer to verify)
- The 2028 Summer Games are expected to boost LA's real estate market through major infrastructure, neighborhood, and venue upgrades
Investment Overview
The SR Group of 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. 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. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. The property is being sold as part of a two-building portfolio, including a five unit (1259 Vin Scully) directly adjacent, which is available individually or any combination as a portfolio purchase.
Exclusively Listed By
Financing By
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