Multifamily

1611-1615 1/2 DONALDSON STREET

1611 Donaldson St, Los Angeles, CA 90026

Listing Price: $1,800,000

Cap Rate
3.42%
Number of Units
3
Price/Unit
$600,000
Price/Gross SF
$791.21
Gross SF
2,275

Investment Overview

The residential area bordering 575-acre Elysian Park, offers stunning views of downtown, Echo Park, summertime fireworks at Dodger Stadium, and in some cases all the way out to the ocean. The popularity of the area is largely influenced by its proximity to major employers along with diverse residents, light traffic, and historically significant homes. Artists and young couples are drowned to this location as Echo Park continues to add coffee houses, restaurants, and boutiques. This offering contains three existing completely renovated structures: two detached charming one-bedroom/one-bathroom units in the front of the property and a two-bedroom/one-bathroom unit in the back with a value-add component, subject to redevelopment. The property has four single car garages and secured entry. The units have a lot of character with hardwood floors, arched doorways and built-ins and in unit washers and dryers. The proposed in-place plans to expand the existing two-bedroom/one-bathroom unit are for a two-story eight-bedroom/eight-bathroom co-living space. Plans also include the following: two attached decks, rooftop equipment room and an open trellis/BBQ area. Plans are currently going through the approval process. The property will be delivered shovel ready with building permits. This offering will appeal to any savvy investor looking for a well-located Echo Park value-add trophy with significant upside.

Investment Highlights

  • Extensively Remodeled Units
  • In Unit Washer & Dryer
  • On site Parking

Exclusively Listed By

Multifamily

1611-1615 1/2 DONALDSON STREET

Listing Price: $1,800,000

Cap Rate
3.42%
Number of Units
3
Price/Unit
$600,000
Price/Gross SF
$791.21
Gross SF
2,275

Investment Highlights

  • Extensively Remodeled Units
  • In Unit Washer & Dryer
  • On site Parking

Investment Overview

The residential area bordering 575-acre Elysian Park, offers stunning views of downtown, Echo Park, summertime fireworks at Dodger Stadium, and in some cases all the way out to the ocean. The popularity of the area is largely influenced by its proximity to major employers along with diverse residents, light traffic, and historically significant homes. Artists and young couples are drowned to this location as Echo Park continues to add coffee houses, restaurants, and boutiques. This offering contains three existing completely renovated structures: two detached charming one-bedroom/one-bathroom units in the front of the property and a two-bedroom/one-bathroom unit in the back with a value-add component, subject to redevelopment. The property has four single car garages and secured entry. The units have a lot of character with hardwood floors, arched doorways and built-ins and in unit washers and dryers. The proposed in-place plans to expand the existing two-bedroom/one-bathroom unit are for a two-story eight-bedroom/eight-bathroom co-living space. Plans also include the following: two attached decks, rooftop equipment room and an open trellis/BBQ area. Plans are currently going through the approval process. The property will be delivered shovel ready with building permits. This offering will appeal to any savvy investor looking for a well-located Echo Park value-add trophy with significant upside.

Exclusively Listed By

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