1016 Laguna Ave 5 Unit Apartment Building $1,595,000 ($319,000/Unit) 5.52% Cap Rate Los Angeles, CA 90026

MAJOR PRICE IMPROVEMENT! 5.52 CURRENT CAP RATE! SELLER MOTIVATED! Rare Echo Park Lakefront 5-Unit Income Property with Stunning Views An exceptional opportunity to own a trophy 5-unit income property in one of Echo Park’s most coveted locations— Echo Park Lake. Set on an elevated lot, this rare gem offers stunning views of the city skyline, views of Echo Park Lake, and the Hollywood Sign -- combining timeless character with strong income potential.
The well-maintained property features five unique units: two charming detached studio bungalows, a spacious 2-bedroom/1-bath unit, and two studio bungalow units in a separate building. Each residence has been thoughtfully updated to retain its original warmth and architectural integrity, offering inviting interiors and a peaceful atmosphere.
Tenants enjoy the unbeatable experience of living above the lake, with Echo Park’s walking paths, paddle boats, and gardens just steps from their front doors. The vibrant energy of local shops, cafes, and nightlife is mere minutes away, yet the property maintains a tranquil, park-side feel.
Additional features include a detached garage offering off-street parking and storage potential. Whether you're an investor looking for stable income and long-term appreciation, or an owner-user seeking a legacy asset in an irreplaceable location, this is a truly rare offering in the heart of Echo Park.