We are pleased to offer for sale a seven-unit apartment building located at 1242 Lilac Place in Los Angeles. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket. Over the past decade, Echo Park has become one of the most desirable neighborhoods… Read More for renters in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents on the Eastside of L.A. Situated on a 5,548 square foot parcel, the property comprises of five studios and two one-bedroom units. New ownership can add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential Permits are RTI Status. The property's desirable location, north of Sunset Boulevard coupled with the significant value-add potential and attractive basis makes 1242 Lilac an excellent acquisition opportunity for investors. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. The property is being sold as part of a two-building portfolio, including a five unit (1259 Vin Scully) directly adjacent, which is available individually or any combination as a portfolio purchase. Read Less
Property listed by Marcus & Millichap, Sean Rosenzweig 310-909-5500
Listing Snapshot
Days Online
13
Last Updated
Property Type
Other
Beds
2
Square Ft.
4,604
Lot Size
0.13 Acres
Year Built
1921
MLS Number
25582025
30 Days Snapshot Of 90026
$1.39M
-21%
(avg) sold price
23
+27%
homes sold
61
+19%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1921, Building area total: 4,604, Levels: Two, Living area: 4604, 2 stories, 2 buildings
Income
Gross income: $74,921, Net operating income: $31,534
Lot
0.1274 acres, 5,548 square feet, Size: 5,548
Parking
2 totals parking, None
Property
Zoning: LAR4
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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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