COPPER PLUMBING & SOFT-STORY RETROFIT COMPLETED…Fantastic 8-unit investment property located in the up and coming Rampart Village neighborhood, directly adjacent to Silverlake, Echo Park and Koreatown. The well-maintained mid-century apartment complex, built in 1960, offers a total of 4,446 square feet of living space on a 6,878 SF lot zoned R3, with a strong unit mix of (6) 1-bedroom/1-bath units and (2) 2-bedroom/1-bath units. The building features several recent upgrades: all above ground plumbing was replaced with copper, both soft-story retrofits were completed in 2018, the water heater was replaced in 2019, the driveway was recently re-paved, and all 9 seismic gas shut-off valves have been installed. The roof has also received regular annual maintenance. While the property is comprised of longer term tenants, about half of the units have been upgraded with new kitchens. There are two tuck-under parking areas at the front and back of the building with 12 spots in total (8 spots without tandem parking). The property is also separately metered for gas & electric. Lastly, there’s an on-site laundry room which provides additional monthly income. The building has been under the same ownership for over 11 years and there is still 42% upside in rental income remaining. The property’s various system upgrades and longer term tenants, combined with its excellent location near trendy neighborhoods and vibrant cultural hubs, make this a fantastic investment opportunity.
Property Details
Price:
$1,500,000
MLS #:
24439995
Status:
Active Under Contract
Baths:
0
Address:
122 N Rampart Boulevard
Type:
Residential Income
Neighborhood:
c21silverlakeechopark
City:
Los Angeles
Listed Date:
Sep 15, 2024
State:
CA
ZIP:
90026
Lot Size:
6,880 sqft / 0.16 acres (approx)
Year Built:
1960
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Schools
Interior
Heating
Wall Furnace
Exterior
Parking Features
Covered, Uncovered, Tandem Garage
Parking Spots
12.00
Stories Total
2
View
None
Financial
Map
Community
- Address122 N Rampart Boulevard Los Angeles CA
- AreaC21 – Silver Lake – Echo Park
- CityLos Angeles
- CountyLos Angeles
- Zip Code90026
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Courtesy of Lyon Stahl Investment Real Estate, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
122 N Rampart Boulevard
Los Angeles, CA
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