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10 California Detached Bungalows 1303 Lilac Terrace 10 Unit Apartment Building $4,300,000 ($430,000/Unit) 5.14% Cap Rate Los Angeles, CA 90026
Executive Summary
A great investment opportunity awaits you at 1303 Lilac Terrace in the Echo Park area of Los Angeles. This quiet area is rapidly growing & gentrifying in Northeast LA adjacent to Dodger Stadium & Silverlake. The property sits on a large half acre lot of 21,717 square feet and consists of 10 bungalow individual buildings. There are 9- 1bed/1bath units and 1- 2bed/1bath unit each with a living room in separate Spanish styled Bungalows totaling 5975 Sq. Ft. of living space. Many of the bungalows have private fenced front yards. 8 of the bungalows have their own basement and laundry. All buildings have original oak hardwood flooring, tiled kitchen counters and $50,000 was spent on the remodeling of the bungalows. All units are separately metered for gas & electricity and trash which are paid by the tenants. There is plenty of parking for tenants and guests besides the 3 enclosed single car garages. The 2bed/1bath bungalow has its own large and secluded backyard. This prime land also has more opportunity for additional development. The property is zoned LARD 1.5. and has room for expansion of more buildings. Property is offered at a current 5.1% CAP rate with room to grow the rents as they are month to month leases. Don’t miss this opportunity!
Property Facts
| Price | $4,300,000 | Building Class | C |
| Price Per Unit | $430,000 | Lot Size | 0.50 AC |
| Sale Type | Investment | Building Size | 5,975 SF |
| Cap Rate | 5.14% | Average Occupancy | 90% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 0.9/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R3-1, Los Angeles - LARD1.5 | ||
| Price | $4,300,000 |
| Price Per Unit | $430,000 |
| Sale Type | Investment |
| Cap Rate | 5.14% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 5,975 SF |
| Average Occupancy | 90% |
| No. Stories | 1 |
| Year Built | 1923 |
| Parking Ratio | 0.9/1,000 SF |
| Zoning | R3-1, Los Angeles - LARD1.5 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
| 2+1 | 1 | - | - |
Walk Score®
Very Walkable (88)
Property Taxes
| Parcel Number | 5406-011-022 | Improvements Assessment | $143,137 |
| Land Assessment | $331,495 | Total Assessment | $474,632 |
Property Taxes
Parcel Number
5406-011-022
Land Assessment
$331,495
Improvements Assessment
$143,137
Total Assessment
$474,632
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10 California Detached Bungalows | 1303 Lilac Terrace
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