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Listing Details

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School Ratings & Info

Description

Rare opportunity to purchase a relatively new construction apartment building across from Echo Park. A prospective buyer has the opportunity to purchase an apartment building subject to AB 1482 rent control which allows for 5% + CPI annual rent increases. The property offers an outstanding unit mix of studio, two-bedroom, & three-bedroom units & approximately 40% upside in rental income. The studio unit measures approximately 970 square feet and was originally a recreation room. Current owners are in the process of receiving approval permits to convert the recreation room into a legal studio, accessory dwelling unit (ADU). Lastly, the three-bedroom/three-bathroom plus a den unit is being operated as a fourth bedroom.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-16T23:42:40.217. 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/119541422
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827 Glendale Blvd Los Angeles, CA 90026

  • Price: $3,300,000
  • Status: Active
  • Updated: 64 min ago
  • MLS #: 21-763560
16
Beds
0
Baths
0
½ Baths
0.16
Acres
7,924
SQFT
$416
$/SQFT
1988
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
Rare opportunity to purchase a relatively new construction apartment building across from Echo Park. A prospective buyer has the opportunity to purchase an apartment building subject to AB 1482 rent control which allows for 5% + CPI annual rent increases. The property offers an outstanding unit mix of studio, two-bedroom, & three-bedroom units & approximately 40% upside in rental income. The studio unit measures approximately 970 square feet and was originally a recreation room. Current owners are in the process of receiving approval permits to convert the recreation room into a legal studio, accessory dwelling unit (ADU). Lastly, the three-bedroom/three-bathroom plus a den unit is being operated as a fourth bedroom.
Exterior Features

Lot Size Area 6999 Other Structures Accessory Dwelling Unit Parking Garage Garage Total Parking 12

Interior Features

Baths Total 12.00 Cooling Central Equipment DishwasherElevatorMicrowave Flooring Laminate Heating Central

Property Features

Assessed Total Value 1786012 Gross Income 188628 Gross Operating Income 188628 Like Units1 1 Like Units2 2 Like Units3 2 Like Units4 1 Net Operating Income 123147.00 Number Of Buildings 1 Number Of Units 6 Rent Control YN No Sale Type Standard Security Features Automatic GateCard/Code AccessGated Source Living Area Vendor Enhanced Source Lot Size Area Estimated Total Annual Expense 65481 Type Of Units Market Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard2

Listing provided courtesy of Andres Diaz DRE#01956479 of Keller Williams Downtown La.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-16T23:42:40.217. 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