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1823 Colorado Boulevard

Los Angeles (City), CA 90041
  • $2,288,000
  • STATUS: Pending
  • ON SITE: 70 Days
  • ID#: AR22159951
Pending
UPDATED: 63 min ago
$2,288,000
  • 0
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1920
County:

School Ratings & Info

Listing Agent(s): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)


Description

Take a look at this 12 Unit Value Add opportunity in Eagle Rock. The property is in a great Eagle Rock location, on Colorado Blvd, within walking distance to shops, restaurants, and nightlife located adjacent to one of the nicest residential neighborhoods in the area. The Colorado Apartments have the 1920s charm, as well as parking for all units. Eagle Rock is a strong rental market with high demand for rental units in the area, and 66% +/- upside in rents for the next owner. Properties like this dont come up very often, as Eagle Rock has many long term owners, giving a high barrier to entry in a market that sees minimal multi-family transactions per year. There is currently one vacant, allowing the next owner to take the unit to market rent. This building has a nice unit mix/ count making it a great addition to all sized Multi-family portfolios.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-29T09:29:50.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
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1823 Colorado Boulevard Los Angeles (City), CA 90041

  • Price: $2,288,000
  • Status: Pending
  • On Site: 70 Days
  • Updated: 63 min ago
  • ID#: AR22159951
0
Beds
0
Baths
0
½ Baths
0.28
Acres
1920
Built
Neighborhood:
618 - Eagle Rock
County:
Los Angeles
Area:
618 - Eagle Rock
Property Description
Take a look at this 12 Unit Value Add opportunity in Eagle Rock. The property is in a great Eagle Rock location, on Colorado Blvd, within walking distance to shops, restaurants, and nightlife located adjacent to one of the nicest residential neighborhoods in the area. The Colorado Apartments have the 1920s charm, as well as parking for all units. Eagle Rock is a strong rental market with high demand for rental units in the area, and 66% +/- upside in rents for the next owner. Properties like this dont come up very often, as Eagle Rock has many long term owners, giving a high barrier to entry in a market that sees minimal multi-family transactions per year. There is currently one vacant, allowing the next owner to take the unit to market rent. This building has a nice unit mix/ count making it a great addition to all sized Multi-family portfolios.
Exterior Features

Number Of Separate Electric Meters 12 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 4.08 Common Interest None Community Features Urban Electric Expense 2000 Fuel Expense 0 Garage YN No Gross Income 151103 Gross Scheduled Income 150803 Insurance Expense 2800 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 91540 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 55030 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Trust Trash Expense 8368 Water Sewer Expense 5731 Water Source Public Zoning Lac4



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-29T09:29:50.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
 
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Beach City Brokers | BCB Premier Estates | The Miller Group
1716 South Catalina Avenue
Redondo Beach CA, 90277
Listing Agent(s): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)