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2521 Sichel St

Los Angeles, CA 90031
  • $1,175,000
  • STATUS: Active
  • ON SITE: 82 Days
  • MLS #: 22-130761
UPDATED: 34 min ago
$1,175,000
  • 9
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,454
    SQFT
  • $264
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Description

We are pleased to present 2521 Sichel Street, a 5-unit apartment building in the emerging residential neighborhood of Lincoln Heights, just east of Downtown Los Angeles. The property, which consists of two (2) one-bedroom/one-bathroom units, two (2) two-bedroom/two-bathroom and one (1) three-bedroom/one-bathroom unit, provides an investor a tremendous value add opportunity as current rents are approximately 62% below market. Built in 1962, the two buildings are a combined 4,454 square feet and sit on a large 8,904 square foot lot that is LARD2 zoned. The property is located in an Opportunity Zone which offers excellent development potential. The property location offers convenient local access to neighboring Downtown Los Angeles, Highland Park, and Elysian Park. 2521 Sichel Street has a Walk Score of 91 as it is in close proximity to trendy art galleries, bars, restaurants and cafes and within walking distance to the Lincoln/Cypress Metro Goldline Station, which provides easy access to Pasadena to the east and Union Station to the west. The property is also conveniently located near the 110 and 5 Freeways. Lincoln Heights is considered to be the oldest neighborhood in Los Angeles. In recent years, Lincoln Heights has become a popular location for young professionals who want to live in close proximity to Downtown Los Angeles. Along with this influx of a younger tenant profile has come new art galleries, coffee shops, bars and restaurants. As Downtown Los Angeles continues to grow, the area will undoubtedly continue to improve.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/126103476
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2521 Sichel St Los Angeles, CA 90031

  • Price: $1,175,000
  • Status: Active
  • On Site: 82 Days
  • Updated: 34 min ago
  • MLS #: 22-130761
9
Beds
0
Baths
0
½ Baths
0.2
Acres
4,454
SQFT
$264
$/SQFT
1962
Built
Neighborhood:
Lincoln Heights
County:
Los Angeles
Area:
Lincoln Heights
Property Description
We are pleased to present 2521 Sichel Street, a 5-unit apartment building in the emerging residential neighborhood of Lincoln Heights, just east of Downtown Los Angeles. The property, which consists of two (2) one-bedroom/one-bathroom units, two (2) two-bedroom/two-bathroom and one (1) three-bedroom/one-bathroom unit, provides an investor a tremendous value add opportunity as current rents are approximately 62% below market. Built in 1962, the two buildings are a combined 4,454 square feet and sit on a large 8,904 square foot lot that is LARD2 zoned. The property is located in an Opportunity Zone which offers excellent development potential. The property location offers convenient local access to neighboring Downtown Los Angeles, Highland Park, and Elysian Park. 2521 Sichel Street has a Walk Score of 91 as it is in close proximity to trendy art galleries, bars, restaurants and cafes and within walking distance to the Lincoln/Cypress Metro Goldline Station, which provides easy access to Pasadena to the east and Union Station to the west. The property is also conveniently located near the 110 and 5 Freeways. Lincoln Heights is considered to be the oldest neighborhood in Los Angeles. In recent years, Lincoln Heights has become a popular location for young professionals who want to live in close proximity to Downtown Los Angeles. Along with this influx of a younger tenant profile has come new art galleries, coffee shops, bars and restaurants. As Downtown Los Angeles continues to grow, the area will undoubtedly continue to improve.
Exterior Features

Lot Size Area 8904 Other Structures None Parking Garage None Total Parking 5

Interior Features

Baths Total 5.00 Cooling Wall Unit(S) Equipment None Heating Wall

Property Features

Assessed Total Value 867221 Gross Income 50676 Gross Operating Income 49156 Like Units1 2 Like Units2 2 Like Units3 1 Net Operating Income 19765.00 Number Of Buildings 3 Number Of Units 5 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 29391 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lard2

Listing provided courtesy of Matthew Ziegler DRE# of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The John Jay Group - Bennion Deville Homes
74996 Highway 111
Indian Wells CA, 92210