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    1214 S Lake St

    Los Angeles, CA 90006
    • $5,395,000
    • STATUS: Active Under Contract
    • ON SITE: 236 days
    • MLS #: 20-669164
    Under Contract
    UPDATED: 51 min ago
    $5,395,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,460
      SQFT
    • $264
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1914
    County:

    School Ratings & Info

    Description

    Built in 1914, this 37-unit property is located in the Westlake neighborhood just north of S Alvarado Street between 11th St and Pico Blvd, providing easy access to the 10 & 110 Freeways, Downtown Los Angeles and Koreatown. The subject property totals 20,460 SF featuring a unit mix that includes 25 singles, 11 one-bedrooms and one one-bedroom plus den. The majority of rents are currently under-market, providing a true value-add opportunity to capture the 50% rental upside through an interior renovation program when units turn.Furthermore, the basement features hookups allowing an investor to install community laundry for additional income. At the asking price, the property is being offered for a low $145,811 per unit and $264 per square foot.1214 S Lake St has been well-maintained by ownership with recent capital expenditures over the last four years including common area flooring and paint, new security camera system and intercom, exterior trim paint... etc

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-08-03T22:42:38.62. 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.
    www.desertarealuxuryhomes.com/homes/112505354
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    1214 S Lake St Los Angeles, CA 90006

    • Price: $5,395,000
    • Status: Active Under Contract
    • Updated: 51 min ago
    • MLS #: 20-669164
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    20,460
    SQFT
    $264
    $/SQFT
    1914
    Built
    Neighborhood:
    Downtown L.A.
    County:
    Los Angeles
    Area:
    Downtown L.A.
    Property Description
    Built in 1914, this 37-unit property is located in the Westlake neighborhood just north of S Alvarado Street between 11th St and Pico Blvd, providing easy access to the 10 & 110 Freeways, Downtown Los Angeles and Koreatown. The subject property totals 20,460 SF featuring a unit mix that includes 25 singles, 11 one-bedrooms and one one-bedroom plus den. The majority of rents are currently under-market, providing a true value-add opportunity to capture the 50% rental upside through an interior renovation program when units turn.Furthermore, the basement features hookups allowing an investor to install community laundry for additional income. At the asking price, the property is being offered for a low $145,811 per unit and $264 per square foot.1214 S Lake St has been well-maintained by ownership with recent capital expenditures over the last four years including common area flooring and paint, new security camera system and intercom, exterior trim paint... etc
    Exterior Features

    Lot Size Area 8700 Other Structures None Parking Garage None Total Parking 0

    Interior Features

    Baths Total 37.00 Cooling Wall/Window Equipment Garbage DisposalCeiling FanRange/Oven Flooring Hardwood Heating Wall

    Property Features

    Assessed Total Value 3900000 Gross Income 411312 Gross Operating Income 412915 Like Units1 25 Like Units2 10 Like Units3 1 Net Operating Income 205366.00 Number Of Buildings 1 Number Of Units 37 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 186903 Type Of Units Apartment Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning R4-1-Hpoz

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-08-03T22:42:38.62. 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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