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
AVG $1.85M
$5.5M
Year Built
AVG 1932
1914
Walkscore
AVG 92
95
Data Provided by Walkscore ® not using MLS data

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