Multifamily

2436 Echo Park Ave

2436 Echo Park Avenue, Los Angeles, CA 90026

Listing Price: $1,550,000

Cap Rate
6.03%
Number of Units
8
GRM
10.27
Occupancy
97.00%
Price/Unit
$193,750
Price/Gross SF
$289.50
Gross SF
5,354

Investment Overview

Marcus & Millichap is pleased to present an eight (8) unit multifamily property located in Echo Park, California. The property is situated at 2436 Echo Park Avenue, south of Riverside Drive and west of Stadium Way. Adjacently located to East Hollywood and Downtown, these surrounding sub makrets are major employmnet centers for the demographic that resides in Echo Park, which makes it a very commutable area for its residents.
Echo Park is best known for its wide variety of age demographics and unique cultural arts scene. Echo Park has been subject to an invigorated stream of new housing development, community re-positioning, and increased demand for tech-based startup companies that are migrating to the area. Sunset Boulevard is the main thoroughfare and commercial artery that runs through the neighborhood. Along the boulevard and its side streets, you'll find local favorites such as the Andante Coffe Shop, Mohawk Bend Restaurant, and countless nightlife entertainment located on Sunset Boulevard. Locals and visitors alike enjoy paddle-boating around the lake, while the surrounding area continues to experience retail, recreation, and restaurant renaissance. Reflective of this infill, the area has been transforming into a proud landkmark within the City of Los Angeles.
The four-story apartment building contains a great unit mix of six (6) one-bedroom / one-bathroom units, one (1) two-bedroom / one bathroom unit, and one (1) three-bedroom / one and a half bathroom unit. The property is positioned on a hillside offering all units with incredible views of surrounding cities and the Los Angeles National Forest mountain range. There are two (2) one-bedroom / one-bathroom units that include supplementary square footage and one of the units contains an outdoor deck. In addition, the propery features on site laundry, four (4) garage style parking spots, which two of the garage spaces will be delivered vacant, and contain two (2) additional on-site parking spaces for residents to acquire.
Well-positioned in a prime Echo Park location, the subject property presents an excellent opportunity for an investor to capitalize on the significant rental upside (50%) in a core market of Los Angeles.

Investment Highlights

  • Prime Echo Park Location
  • Significant Rental Upside (44%)
  • Strong Rental Pocket
  • Great Unit Mix
  • On-Site Laundry
  • Incredible Views from Selected Units

Exclusively Listed By

Listing Price: $1,550,000

Cap Rate
6.03%
Number of Units
8
GRM
10.27
Occupancy
97.00%
Price/Unit
$193,750
Price/Gross SF
$289.50
Gross SF
5,354

Investment Highlights

  • Prime Echo Park Location
  • Significant Rental Upside (44%)
  • Strong Rental Pocket
  • Great Unit Mix
  • On-Site Laundry
  • Incredible Views from Selected Units

Investment Overview

Marcus & Millichap is pleased to present an eight (8) unit multifamily property located in Echo Park, California. The property is situated at 2436 Echo Park Avenue, south of Riverside Drive and west of Stadium Way. Adjacently located to East Hollywood and Downtown, these surrounding sub makrets are major employmnet centers for the demographic that resides in Echo Park, which makes it a very commutable area for its residents.
Echo Park is best known for its wide variety of age demographics and unique cultural arts scene. Echo Park has been subject to an invigorated stream of new housing development, community re-positioning, and increased demand for tech-based startup companies that are migrating to the area. Sunset Boulevard is the main thoroughfare and commercial artery that runs through the neighborhood. Along the boulevard and its side streets, you'll find local favorites such as the Andante Coffe Shop, Mohawk Bend Restaurant, and countless nightlife entertainment located on Sunset Boulevard. Locals and visitors alike enjoy paddle-boating around the lake, while the surrounding area continues to experience retail, recreation, and restaurant renaissance. Reflective of this infill, the area has been transforming into a proud landkmark within the City of Los Angeles.
The four-story apartment building contains a great unit mix of six (6) one-bedroom / one-bathroom units, one (1) two-bedroom / one bathroom unit, and one (1) three-bedroom / one and a half bathroom unit. The property is positioned on a hillside offering all units with incredible views of surrounding cities and the Los Angeles National Forest mountain range. There are two (2) one-bedroom / one-bathroom units that include supplementary square footage and one of the units contains an outdoor deck. In addition, the propery features on site laundry, four (4) garage style parking spots, which two of the garage spaces will be delivered vacant, and contain two (2) additional on-site parking spaces for residents to acquire.
Well-positioned in a prime Echo Park location, the subject property presents an excellent opportunity for an investor to capitalize on the significant rental upside (50%) in a core market of Los Angeles.

Exclusively Listed By

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