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1331 Sutherland St
Los Angeles, CA 90026
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Prime Echo Park Location
- Solid Rental Upside Potential (+60%)
- Long-Term Owner - Last Sold in 1965
- Three (3) Units Delivered Vacant
- Full On-Site Parking Available
- Offered by the Original Developer's Family
Executive Summary
Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 1331 Sutherland Street in Los Angeles, California. The subject property is located in a prime Echo Park location, north of Sunset Boulevard and east of Alvarado Street.
Located in a prime Echo Park neighborhood, this rare multifamily offering features an attractive unit mix of six one-bedroom units and two two-bedroom units, with three units delivered vacant ready to be renovated. The property boasts exceptional rental upside of over 60%, supported by fully on-site parking and a highly sought-after opportunity to convert both tuck-under and open parking areas into 5+ ADUs. There is also a vacant laundry room. Long held by the original developer’s family since 1965, the building presents a unique value-add canvas enhanced by wonderful city views from select units. The property is located just north of Sunset Boulevard and within walking distance to local bars, restaurants, and Echo Park nightlife.
Being offered for the first time since the building was built in the 1960’s with three vacant units, 1331 Sutherland Street offers an investor an ideal value add opportunity with great ADU potential.
For OM, please visit: https://www.lamultifamilydeals.com/properties/1331-sutherland-st
Located in a prime Echo Park neighborhood, this rare multifamily offering features an attractive unit mix of six one-bedroom units and two two-bedroom units, with three units delivered vacant ready to be renovated. The property boasts exceptional rental upside of over 60%, supported by fully on-site parking and a highly sought-after opportunity to convert both tuck-under and open parking areas into 5+ ADUs. There is also a vacant laundry room. Long held by the original developer’s family since 1965, the building presents a unique value-add canvas enhanced by wonderful city views from select units. The property is located just north of Sunset Boulevard and within walking distance to local bars, restaurants, and Echo Park nightlife.
Being offered for the first time since the building was built in the 1960’s with three vacant units, 1331 Sutherland Street offers an investor an ideal value add opportunity with great ADU potential.
For OM, please visit: https://www.lamultifamilydeals.com/properties/1331-sutherland-st
Property Facts
| Price Per Unit | $190,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.75% | Building Size | 5,644 SF |
| Gross Rent Multiplier | 10.86 | Average Occupancy | 63% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LARD2 - Multi Family Dwelling | ||
| Price Per Unit | $190,625 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| Gross Rent Multiplier | 10.86 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,644 SF |
| Average Occupancy | 63% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | LARD2 - Multi Family Dwelling |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
Property Taxes
| Parcel Number | 5406-001-038 | Improvements Assessment | $148,549 |
| Land Assessment | $45,079 | Total Assessment | $193,628 |
Property Taxes
Parcel Number
5406-001-038
Land Assessment
$45,079
Improvements Assessment
$148,549
Total Assessment
$193,628
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