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Multifamily

1260 Vin Scully Ave

1260 Vin Scully Ave, Los Angeles, CA 90026

Listing Price: $2,450,000

Cap Rate
4.72%
Number of Units
5
Occupancy
80.0%
Price/Unit
$490,000
Price/Gross SF
$435.63
Gross SF
5,624

Investment Overview

Marcus and Millichap is pleased to present a five (5) unit apartment building located at 1260 Vin Scully Avenue in Los Angeles, California. The subject property is situated in a prime Echo Park location, west of Stadium Way and east of Sunset Boulevard. Echo Park is a diverse and eclectic area, attracting strong development and new residents every year. Echo Park is a rapidly changing rental market that is adjacent to East Hollywood and Downtown Los Angeles. Echo Park has been subject to an invigorate stream of new housing development, community re-positing, and an increased demand of living in the area. Anchored by an eponymous lake dotted with swan boats and lotus flowers, and wrapped around Los Angeles’s second-largest park, the Echo Park neighborhood is also a nature-lover’s refuge in the heart of the city. Sunset Boulevard is the main thoroughfare and commercial artery that runs through the neighborhood, where along the boulevard and side streets you’ll find local favorites such as the Andante Coffee Shops, Mohawk Bend, and countless nightlife entertainment including the Short Stop and Sunset Lounge. Locals and visitors alike enjoy paddle-boating around the lake and watching the world-famous Los Angeles Dodgers play at Dodger Stadium. Over the last decade, Echo Park has been transforming into a proud revitalizing landmark within the City of Los Angeles. Built in 1987, this turn-key property is well renovated, stylish, and located within walking distance to Dodger Stadium. The property is securely gated, features spacious yard space, has eight (8) subterranean parking spaces, and contains a great unit mix of four (4) two bedroom / two bathroom units and one (1) three bedroom / two bathroom unit. Due to its vintage, the property is not subject to Los Angeles rent control, however, it is subject to AB1482. The units feature a full array of amenities including stainless steel appliances, in-unit washers and dryers, dishwashers, central heating and air conditioning, quartz countertops, walk-in closets, dishwashers, refrigerators, and hardwood floors. Tenants will enjoy being in the heart of Echo Park with a walk score of 97. With a short walk residents can find trendy restaurants, cafes, and even a gaming store. They can also find outdoor recreation within walking distance at Elysian Park. Situated in a prime Echo Park location, this offering presents an excellent opportunity to acquire a turn-key property with high end upgrades that isn’t subject to LA rent control.

Investment Highlights

  • Prime Echo Park Location
  • Good Initial Cap-Rate of 4.72%
  • Built in 1987 - Not Subject to LA Rent Control
  • Great Unit Mix of Four (4) Two Bedroom / Two Bathroom Units & One (1) Three Bedroom / Two Bathroom Units
  • Immediate Proximity to Dodger Stadium
  • Stylish, Fully Turn-Key Building
  • Property is Securely Gated & Features a Spacious Yard
  • Units Include Stainless Steel Appliances, In-Unit Washers & Dryers, Dishwashers, Central Heating & A/C, Quartz Countertops, Walk-In Closets, Refrigerators, and Hardwood Floors

Exclusively Listed By

Financing By

Multifamily

1260 Vin Scully Ave

Listing Price: $2,450,000

Cap Rate
4.72%
Number of Units
5
Occupancy
80.0%
Price/Unit
$490,000
Price/Gross SF
$435.63
Gross SF
5,624

Investment Highlights

  • Prime Echo Park Location
  • Good Initial Cap-Rate of 4.72%
  • Built in 1987 - Not Subject to LA Rent Control
  • Great Unit Mix of Four (4) Two Bedroom / Two Bathroom Units & One (1) Three Bedroom / Two Bathroom Units
  • Immediate Proximity to Dodger Stadium
  • Stylish, Fully Turn-Key Building
  • Property is Securely Gated & Features a Spacious Yard
  • Units Include Stainless Steel Appliances, In-Unit Washers & Dryers, Dishwashers, Central Heating & A/C, Quartz Countertops, Walk-In Closets, Refrigerators, and Hardwood Floors

Investment Overview

Marcus and Millichap is pleased to present a five (5) unit apartment building located at 1260 Vin Scully Avenue in Los Angeles, California. The subject property is situated in a prime Echo Park location, west of Stadium Way and east of Sunset Boulevard. Echo Park is a diverse and eclectic area, attracting strong development and new residents every year. Echo Park is a rapidly changing rental market that is adjacent to East Hollywood and Downtown Los Angeles. Echo Park has been subject to an invigorate stream of new housing development, community re-positing, and an increased demand of living in the area. Anchored by an eponymous lake dotted with swan boats and lotus flowers, and wrapped around Los Angeles’s second-largest park, the Echo Park neighborhood is also a nature-lover’s refuge in the heart of the city. Sunset Boulevard is the main thoroughfare and commercial artery that runs through the neighborhood, where along the boulevard and side streets you’ll find local favorites such as the Andante Coffee Shops, Mohawk Bend, and countless nightlife entertainment including the Short Stop and Sunset Lounge. Locals and visitors alike enjoy paddle-boating around the lake and watching the world-famous Los Angeles Dodgers play at Dodger Stadium. Over the last decade, Echo Park has been transforming into a proud revitalizing landmark within the City of Los Angeles. Built in 1987, this turn-key property is well renovated, stylish, and located within walking distance to Dodger Stadium. The property is securely gated, features spacious yard space, has eight (8) subterranean parking spaces, and contains a great unit mix of four (4) two bedroom / two bathroom units and one (1) three bedroom / two bathroom unit. Due to its vintage, the property is not subject to Los Angeles rent control, however, it is subject to AB1482. The units feature a full array of amenities including stainless steel appliances, in-unit washers and dryers, dishwashers, central heating and air conditioning, quartz countertops, walk-in closets, dishwashers, refrigerators, and hardwood floors. Tenants will enjoy being in the heart of Echo Park with a walk score of 97. With a short walk residents can find trendy restaurants, cafes, and even a gaming store. They can also find outdoor recreation within walking distance at Elysian Park. Situated in a prime Echo Park location, this offering presents an excellent opportunity to acquire a turn-key property with high end upgrades that isn’t subject to LA rent control.

Exclusively Listed By

Financing By

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