Multifamily

848 Laveta Terrace

848 Laveta Terrace, Los Angeles, CA 90026

Listing Price: $2,300,000

Cap Rate
5.16%
Number of Units
4
GRM
14.52
Occupancy
97.0%
Price/Unit
$575,000
Price/Gross SF
$815.02
Gross SF
2,822

Investment Overview

Marcus & Millichap is pleased to present a four (4) unit apartment building located at 848 Laveta Terrace in Los Angeles, California. The subject property is situated in a prime Echo Park location, north of Bellevue Avenue and east of Echo Park Avenue.
Flanked by Elysian Park, Elysian Valley, Silver Lake and Chinatown, Echo Park is a historic and diverse neighborhood where youll find everything from Dodger Stadium, the home of our beloved Los Angeles Dodgers, to Echo Park Lake, which reopened recently after a $45-million renovation. Locals and visitors alike enjoy paddle-boating around the lake, while the surrounding area continues to experience a retail, recreation and restaurant renaissance. These features earned this area a walk score of 82. There are over two dozen sets of stairs all over Echo Park, with some dating back to before automobiles and even paved streets. Thanks to their ultra-high vantage point, the Baxter Street Stairs provide some of the most breathtaking views in Los Angeles. Step back in time on Carroll Avenue, located in one of the oldest neighborhoods in Los Angeles, Angelino Heights. This historic street is lined with Victorian manors that date to the 19th century, as well as distinctive lamp posts and hitching posts that secured horses back in the day. The entire 1300 block of Carroll Avenue was added to the National Register of Historic Places in 1976, and several homes have been named Los Angeles Historic-Cultural Monuments. The subject property is just around the corner from Carrol Avenue and Echo Park, in Angelino Heights. This area offers direct access to commercial corridors, such as Sunset Boulevard, and the US 101 Freeway.
Built in 1905, this property has a good unit mix of three (3) one-bedroom / one-bathroom townhomes, and one (1) two-bedroom / one-bathroom house. The property is gated and features four (4) separate bungalows on the lot that were fully renovated in 2020. These bungalows are detached from each other and have outdoor space and tons of parking. The units feature all new systems; electrical, plumbing, sewer, foundations, and roofing; and come fully equipped with central HVAC, subzero refrigerators, restored OKeeffe & Merritt stoves, dishwashers, and electric car charging spaces. This flawless marquee property features Douglas Fir woodwork, windows rebuilt using redwood, exterior balconies, and redwood fencing and railing.
Positioned in a prime Echo Park location, this property is a rare, fully renovated and restored character building with strong in-place income.

Investment Highlights

  • Prime Echo Park Location in Angelino Heights
  • Rare, Turn-Key, High Cash Flow Asset
  • Good Unit Mix
  • Four (4) Detached Bungalows Fully Renovated in 2020
  • On-Site Parking with Electric Car Charging Spaces
  • Gated Property with Outdoor Space

Exclusively Listed By

Listing Price: $2,300,000

Cap Rate
5.16%
Number of Units
4
GRM
14.52
Occupancy
97.0%
Price/Unit
$575,000
Price/Gross SF
$815.02
Gross SF
2,822

Investment Highlights

  • Prime Echo Park Location in Angelino Heights
  • Rare, Turn-Key, High Cash Flow Asset
  • Good Unit Mix
  • Four (4) Detached Bungalows Fully Renovated in 2020
  • On-Site Parking with Electric Car Charging Spaces
  • Gated Property with Outdoor Space

Investment Overview

Marcus & Millichap is pleased to present a four (4) unit apartment building located at 848 Laveta Terrace in Los Angeles, California. The subject property is situated in a prime Echo Park location, north of Bellevue Avenue and east of Echo Park Avenue.
Flanked by Elysian Park, Elysian Valley, Silver Lake and Chinatown, Echo Park is a historic and diverse neighborhood where youll find everything from Dodger Stadium, the home of our beloved Los Angeles Dodgers, to Echo Park Lake, which reopened recently after a $45-million renovation. Locals and visitors alike enjoy paddle-boating around the lake, while the surrounding area continues to experience a retail, recreation and restaurant renaissance. These features earned this area a walk score of 82. There are over two dozen sets of stairs all over Echo Park, with some dating back to before automobiles and even paved streets. Thanks to their ultra-high vantage point, the Baxter Street Stairs provide some of the most breathtaking views in Los Angeles. Step back in time on Carroll Avenue, located in one of the oldest neighborhoods in Los Angeles, Angelino Heights. This historic street is lined with Victorian manors that date to the 19th century, as well as distinctive lamp posts and hitching posts that secured horses back in the day. The entire 1300 block of Carroll Avenue was added to the National Register of Historic Places in 1976, and several homes have been named Los Angeles Historic-Cultural Monuments. The subject property is just around the corner from Carrol Avenue and Echo Park, in Angelino Heights. This area offers direct access to commercial corridors, such as Sunset Boulevard, and the US 101 Freeway.
Built in 1905, this property has a good unit mix of three (3) one-bedroom / one-bathroom townhomes, and one (1) two-bedroom / one-bathroom house. The property is gated and features four (4) separate bungalows on the lot that were fully renovated in 2020. These bungalows are detached from each other and have outdoor space and tons of parking. The units feature all new systems; electrical, plumbing, sewer, foundations, and roofing; and come fully equipped with central HVAC, subzero refrigerators, restored OKeeffe & Merritt stoves, dishwashers, and electric car charging spaces. This flawless marquee property features Douglas Fir woodwork, windows rebuilt using redwood, exterior balconies, and redwood fencing and railing.
Positioned in a prime Echo Park location, this property is a rare, fully renovated and restored character building with strong in-place income.

Exclusively Listed By

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