Homes for sale - 122 N Rampart BLVD, Los Angeles, CA 90026

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Ashlea Boyer

exec@pismohomes.com +1(805) 709-0711

$ 1,500,000

Est. payment | -/mo

10 Beds

8 Baths

4,446 SqFt

Save

$ 1,500,000

Est. payment | -/mo

Save

10 Beds

8 Baths

4,446 SqFt

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 4,446 sqft

Price per Sqft $337

MLS Listing ID 24439995

Bedrooms 10

HOA Y/N No

Year Built 1960

Lot Size 6,878 Sqft

Property Description

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.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR3

Interior

Heating Wall Furnace

Fireplace No

Laundry Common Area

Exterior

Parking Features Covered, Garage, Tandem, Uncovered

View Y/N No

View None

Total Parking Spaces 12

Building

Story 2

Entry Level Two

Architectural Style Mid-Century Modern

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5157001004

Special Listing Condition Standard

Listed by Jake Glaser • Lyon Stahl Investment Real Estate, Inc.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(805) 709-0711

exec@pismohomes.com

350 James Way, Pismo Beach, California, 93449, USA

122 N Rampart BLVD Los Angeles, CA 90026