Address
1214 South Lake Street Los Angeles, CA
Price
$ 5,500,000
Property Attributes
- MLS#0020669164
- TypeIncome
- CountyLOS ANGELES
- CityLos Angeles
- AreaDowntown L.A.
- Zip90006
- Style
- Price$ 5,500,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size8,276 SqFt
Listing Provided Courtesy Of:
Marcus & Millichap
Property Description
Built in 1914, this 37-unit property is located in the Westlake neighborhood just north of S Alvarado Street between 11th St and Pico Blvd, providing easy access to the 10 & 110 Freeways, Downtown Los Angeles and Koreatown. The subject property totals 20,460 SF featuring a unit mix that includes 25 singles, 11 one-bedrooms and one one-bedroom plus den. The majority of rents are currently under-market, providing a true value-add opportunity to capture the 50% rental upside through an interior renovation program when units turn.Furthermore, the basement features hookups allowing an investor to install community laundry for additional income. At the asking price, the property is being offered for a low $148,649 per unit and $269 per square foot.1214 S Lake St has been well-maintained by ownership with recent capital expenditures over the last four years including common area flooring and paint, new security camera system and intercom, exterior trim paint... etc
| Price History | |
|---|---|
| 12/11/2020 | Listed $5,500,000 |
General Features
| Cooling | Wall/Window Unit(s) |
|---|---|
| Flooring | Wood |
| Heating | Wall Furnace |
| MLS Area | C42 - Downtown L.A. |
| Senior Community Y/N | No |
| Sewer | None |
| Zoning | R4-1-HPOZ |
Interior Features
| Air Conditioning Y/N | Yes |
|---|---|
| Heating Y/N | Yes |
| Kitchen Appliances | Disposal |
| Total Stories | 3 |
Exterior Features
| Land Lease Type | Fee |
|---|---|
| Lot Size Acres | 0.19 |
| Lot Size Area | 8700.0 |
| Lot Size Square Feet | 8700.0 |
| Lot Size Units | Square Feet |
| Numberofunitsbuildings | 1 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Zip Code Average in 90006
Price
Year Built
Walkscore
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