Log In/Sign Up
Your email has been sent.
Price Echo Park | Turnkey 1807 Montana St 4 Unit Apartment Building $2,500,000 ($625,000/Unit) 5.91% Cap Rate Los Angeles, CA 90026
Investment Highlights
- Architect-Designed by Dean Levin / 22RE - Comprehensively renovated in 2023 by Dean Levin of 22RE,
- Uniform 2BD / 2BA Unit Mix - All four residences average approximately 942 square feet, catering to roommates, couples, and work-from-home
- Furnished, Turnkey Residences - Fully furnished, hospitality-grade apartments command premium rents and attract high-income tenants
- 5.91% Current Cap Rate with 6.59% Stabilized Upside - $147,751 current NOI with projected upside to $164,809 upon full market stabilization
- Fully Renovated in 2023 – Reduced Capital Risk - Comprehensive renovation mitigates deferred maintenance concerns common to vintage Echo Park assets,
Executive Summary
The LAAA Team of Marcus & Millichap is pleased to present 1807 Montana Street, an architecturally significant four-unit boutique multifamily offering in the heart of Echo Park. Offered at $2,500,000, the property delivers a 5.91% current capitalization rate with upside to 6.59% upon stabilization, supported by uniform two-bedroom/two-bath residences, premium design execution, and strong in-place rental fundamentals in one of Los Angeles’ most supply-constrained urban submarkets.
Originally constructed in 1914 and comprehensively reimagined in 2023 by Dean Levin of 22RE, the property reflects a highly intentional California Contemporary design language rooted in architectural craft and material depth. Levin, who trained in architecture at Pratt Institute in New York before a twelve-year career as a visual artist exhibited at leading galleries, founded 22RE in 2021 with a focus on extending and elevating Los Angeles’ historic residential fabric. The studio has been profiled in PIN–UP Magazine, named Surface Magazine’s “Designer of the Day,” and has had projects featured on ArchDaily and in Wallpaper*. Notable 22RE work includes the expansion of a 1920s Spanish Revival residence in Los Feliz, flagship retail designs for Malbon and Departamento, and the adaptive reuse of a former Ed Ruscha studio in Glassell Park. At 1807 Montana Street, this architectural pedigree translates into refined millwork, paneled kitchens, plaster and tile bathrooms, custom cabinetry, curated furnishings, and an overall cohesion rarely found in small multifamily product.
The property comprises four expansive 2BD/2BA residences averaging approximately 942 square feet, each offering in-unit
washer/dryer, smart-home integration, and one dedicated on-site parking space. Large windows and thoughtfully proportioned
layouts create a bright indoor-outdoor feel, appealing to Echo Park’s creative and professional tenant base. Located within
walking distance to Bacetti Trattoria, Canyon Coffee, Honey Hi, and the Sunset retail corridor, 1807 Montana Street represents a
rare opportunity to acquire a design-forward, stabilized boutique asset in a neighborhood defined by limited new supply, strong
renter demand, and long-term appreciation fundamentals.
Originally constructed in 1914 and comprehensively reimagined in 2023 by Dean Levin of 22RE, the property reflects a highly intentional California Contemporary design language rooted in architectural craft and material depth. Levin, who trained in architecture at Pratt Institute in New York before a twelve-year career as a visual artist exhibited at leading galleries, founded 22RE in 2021 with a focus on extending and elevating Los Angeles’ historic residential fabric. The studio has been profiled in PIN–UP Magazine, named Surface Magazine’s “Designer of the Day,” and has had projects featured on ArchDaily and in Wallpaper*. Notable 22RE work includes the expansion of a 1920s Spanish Revival residence in Los Feliz, flagship retail designs for Malbon and Departamento, and the adaptive reuse of a former Ed Ruscha studio in Glassell Park. At 1807 Montana Street, this architectural pedigree translates into refined millwork, paneled kitchens, plaster and tile bathrooms, custom cabinetry, curated furnishings, and an overall cohesion rarely found in small multifamily product.
The property comprises four expansive 2BD/2BA residences averaging approximately 942 square feet, each offering in-unit
washer/dryer, smart-home integration, and one dedicated on-site parking space. Large windows and thoughtfully proportioned
layouts create a bright indoor-outdoor feel, appealing to Echo Park’s creative and professional tenant base. Located within
walking distance to Bacetti Trattoria, Canyon Coffee, Honey Hi, and the Sunset retail corridor, 1807 Montana Street represents a
rare opportunity to acquire a design-forward, stabilized boutique asset in a neighborhood defined by limited new supply, strong
renter demand, and long-term appreciation fundamentals.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$214,200
|
$56.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,426
|
$1.71
|
| Effective Gross Income |
$207,774
|
$55.14
|
| Taxes |
$31,784
|
$8.44
|
| Operating Expenses |
$9,009
|
$2.39
|
| Total Expenses |
$40,793
|
$10.83
|
| Net Operating Income |
$166,981
|
$44.32
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $214,200 |
| Annual Per SF | $56.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,426 |
| Annual Per SF | $1.71 |
| Effective Gross Income | |
|---|---|
| Annual | $207,774 |
| Annual Per SF | $55.14 |
| Taxes | |
|---|---|
| Annual | $31,784 |
| Annual Per SF | $8.44 |
| Operating Expenses | |
|---|---|
| Annual | $9,009 |
| Annual Per SF | $2.39 |
| Total Expenses | |
|---|---|
| Annual | $40,793 |
| Annual Per SF | $10.83 |
| Net Operating Income | |
|---|---|
| Annual | $166,981 |
| Annual Per SF | $44.32 |
Property Facts
| Price | $2,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $625,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.91% | Building Size | 3,768 SF |
| Gross Rent Multiplier | 11.82 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1914/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Zoning | LAR1.5 - restricted Density Multiple Dwelling | ||
| Price | $2,500,000 |
| Price Per Unit | $625,000 |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| Gross Rent Multiplier | 11.82 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 3,768 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1914/2025 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | LAR1.5 - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Washer/Dryer
- Washer/Dryer Hookup
- Kitchen
- Oven
- Range
- Tub/Shower
- Den
- Instant Hot Water
- Island Kitchen
- Porch
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $4,500 | 942 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5419-021-005 | Total Assessment | $1,591,811 (2025) |
| Land Assessment | $902,026 (2025) | Annual Taxes | $31,784 ($8.44/SF) |
| Improvements Assessment | $689,785 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
5419-021-005
Land Assessment
$902,026 (2025)
Improvements Assessment
$689,785 (2025)
Total Assessment
$1,591,811 (2025)
Annual Taxes
$31,784 ($8.44/SF)
Tax Year
2024
1 of 34
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Price Echo Park | Turnkey | 1807 Montana St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.