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    1303 N Lilac

    Los Angeles (City), CA 90026
    • $4,200,000
    • STATUS: Active
    • ON SITE: 47 days
    • ID#: PF21174154
    UPDATED: 38 min ago
    $4,200,000
    • 0
      BEDS
    • 0.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    A great investment opportunity awaits you at 1303 Lilac Terrace in the Echo Park/Silver Lake vicinity of Los Angeles. This quiet area is rapidly growing & gentrifying in Northeast LA adjacent to Dodger Stadium & DTLA. The property sits on a large half acre lot of 21,717 square feet and consists of 10 bungalow buildings. There are 9- 1bed/1bath units and 1- 2bed/1bath unit each with a living room in separate Spanish styled Bungalows totaling 6,000 Sq. Ft. of living space. Many of the bungalows have private fenced front yards. 8 of the bungalows have their own basement and laundry. All buildings have original oak hardwood flooring, tiled kitchen counters and $50,000 was spent on the reinforcement of the bungalows. All units are separately metered for gas & electricity and paid by the tenants. There is plenty of parking for tenants and guests besides the 3 enclosed single car garages. The 2bed/1bath bungalow has its own large and secluded backyard. This prime land also has more opportunity for additional development. The property is zoned LARD 1.5. Property is offered at a current 4.87% CAP rate with room to grow the rents as they are month to month leases. At a current 17.72 GRM dont miss this opportunity!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-24T00:28:30.09. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.
    www.marknazzalrealty.com/homes/120197114
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    1303 N Lilac Los Angeles (City), CA 90026

    • Price: $4,200,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: PF21174154
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.5
    Acres
    1923
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    A great investment opportunity awaits you at 1303 Lilac Terrace in the Echo Park/Silver Lake vicinity of Los Angeles. This quiet area is rapidly growing & gentrifying in Northeast LA adjacent to Dodger Stadium & DTLA. The property sits on a large half acre lot of 21,717 square feet and consists of 10 bungalow buildings. There are 9- 1bed/1bath units and 1- 2bed/1bath unit each with a living room in separate Spanish styled Bungalows totaling 6,000 Sq. Ft. of living space. Many of the bungalows have private fenced front yards. 8 of the bungalows have their own basement and laundry. All buildings have original oak hardwood flooring, tiled kitchen counters and $50,000 was spent on the reinforcement of the bungalows. All units are separately metered for gas & electricity and paid by the tenants. There is plenty of parking for tenants and guests besides the 3 enclosed single car garages. The 2bed/1bath bungalow has its own large and secluded backyard. This prime land also has more opportunity for additional development. The property is zoned LARD 1.5. Property is offered at a current 4.87% CAP rate with room to grow the rents as they are month to month leases. At a current 17.72 GRM dont miss this opportunity!
    Exterior Features

    Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 10 Open Parking Spaces 7 Parking Total 10 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Appliances Gas RangeRefrigeratorWater HeaterWasher Common Walls No Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Flooring Wood Heating Wall Furnace Heating YN Yes

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.87 Common Interest None Community Features BikingFoothillsHikingParkStreet LightsSidewalksUrban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 236072 Gross Scheduled Income 237072 Insurance Expense 3000 Land Lease YN No Laundry Features Washer HookupInsideSee Remarks Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New LoanConventional Maintenance Expense 7800 Net Operating Income 204672 New Construction YN No Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Number Of Units Leased 10 Operating Expense 32400 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 19756 Trash Expense 500 Water Sewer Expense 2500 Water Source Public Zoning Lard1.5

    Listing provided courtesy of Stephen Biskup of Sotheby's International Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-24T00:28:30.09. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.
     
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    Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center
    1473 Ford St., Suite 200
    Redlands CA, 92373