We are pleased to present a five (5) unit apartment building located at 434 N Lake Street in Los Angeles, California. The subject property is located in a solid Echo Park location, north of Temple Street and west of Alvarado Street. The property is located in Echo Park, offering an… Read More excellent unit mix of three (3) one-bedroom and two (2) two-bedroom units all separately metered for electricity on a spacious 11,683 SF lot. With over 50% rental upside potential, the property is a prime value add opportunity, especially with SB1211 allowing for potential ADU conversions in the garage or rear parking lot. Tenants enjoy a gated and secure environment, lush landscaped front yard, and full onsite parking with eight (8) dedicated spaces. Recent improvements include a new roof and completed soft story retrofit. Situated on a quiet street just off Temple, the property boasts walkable access to local hotspots like Tribal Cafe, Boba Guys, and Echo Park Lake, as well as dominant connectivity to Sunset Blvd, Beverly Blvd, and the 101/110 freeways. This is a strong opportunity to purchase a legacy asset that has not been on the market in over 35 years with huge value-add potential. With strong rental upside and potential for ADU conversion underSB1211, this property offers a rare investment opportunity in a solid Echo Park location poised for continued growth. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
7
Square Ft.
4,076
Lot Size
0.27 Acres
Year Built
1916
MLS Number
25573947
30 Days Snapshot Of 90026
$1.65M
-17%
(avg) sold price
19
-32%
homes sold
48
-28%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1916, Building area total: 4,076, Levels: Two, Living area: 4076, 2 stories, 1 building
Income
Gross income: $85,497, Net operating income: $50,687
Lot
0.2683 acres, 11,686 square feet, Size: 11,686
Parking
Garage, Tandem
Property
Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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