This is a 10% interest as a Tenant in Common with 3 other owners who own the remaining 90%. One of a kind Charming Spanish Adobe Style 6 unit 1920’s apartment complex. Situated on a large corner lot in a quiet residential neighborhood with tree lined streets. All units are 1 bedroom 1 bath, and several have been remodeled, but have retained the charm and character of the 1920’s with ceramic tile in the kitchens and bathrooms, and hardwood floors. There are 4 garages on the side of the property.
The property is valued at $1,700,000 and has a TIC Agreement with the three other owners. There is an existing loan with a balance of $575,000 and bears an interest rate of 4.75%. The monthly payment is $3,129.88 of which $2,284.96 was interest and $844.92 was principal reduction as of the May 2025 Mortgage Statement. The loan is a fully amortizing loan that matures on October 1, 2052 so there is no balloon payment.
When taking 10% of the NOI of $9,322 and deducting 10% of the annualized Mortgage Payment ($3,759), and then adding back principal reduction of $1,013, the total return is approximately $6,576 or 5.85% on the required cash equity investment of $112,500 and assuming $57,500 of the loan for 10% ownership as a Tenant in Common.
The property is valued at $1,700,000 and has a TIC Agreement with the three other owners. There is an existing loan with a balance of $575,000 and bears an interest rate of 4.75%. The monthly payment is $3,129.88 of which $2,284.96 was interest and $844.92 was principal reduction as of the May 2025 Mortgage Statement. The loan is a fully amortizing loan that matures on October 1, 2052 so there is no balloon payment.
When taking 10% of the NOI of $9,322 and deducting 10% of the annualized Mortgage Payment ($3,759), and then adding back principal reduction of $1,013, the total return is approximately $6,576 or 5.85% on the required cash equity investment of $112,500 and assuming $57,500 of the loan for 10% ownership as a Tenant in Common.
Property Details
Price:
$170,000
MLS #:
SB25158948
Status:
Active
Baths:
0
Address:
1601 Fair Park Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
618eaglerock
City:
Eagle Rock
Listed Date:
Jul 15, 2025
State:
CA
ZIP:
90041
Lot Size:
8,173 sqft / 0.19 acres (approx)
Year Built:
1928
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Schools
Interior
Accessibility Features
Other
Appliances
Gas Oven, Gas Range
Cooling
Wall/ Window Unit(s)
Fireplace Features
None
Flooring
Wood
Heating
Floor Furnace
Exterior
Community Features
Sidewalks
Electric
Standard
Garage Spaces
4.00
Lot Features
31-35 Units/ Acre
Parking Features
Garage, Garage Faces Side
Parking Spots
4.00
Pool Features
None
Sewer
Public Sewer
Stories Total
1
View
Neighborhood
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Map
Community
- Address1601 Fair Park Avenue Eagle Rock CA
- Area618 – Eagle Rock
- CityEagle Rock
- CountyLos Angeles
- Zip Code90041
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1601 Fair Park Avenue
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