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7 Units Eagle Rock | Detached ADU Potential 2233 Addison Way 7 Unit Apartment Building $1,450,000 ($207,143/Unit) 5.91% Cap Rate Los Angeles, CA 90041
Investment Highlights
- Eric Dilanian & The Dilanian Real Estate Advisors are Pleased to Present for Sale a 7 Unit in Eagle Rock, with Room for Detached ADUs
- Unit Mix: Boasting an Excellent Unit Mix of (3) 2 Bed & 1 Bath Units, (3) 1 Bed & 1 Bath Units, and (1) 3 Bed & 2 Bath "Owners Unit"
- Close to Occidental College, Sprouts, and popular neighborhood destinations such as Creature's Plants and Coffee, Starbucks, Capri Club, Little Beast
- Building Specs: Built in 1966 | ± 5,112 SF Building | ± 8,246 SF Lot Size | RD1.5-1 Zoning | Tier 3 TOC
- Walk Score: 90! Walker's Paradise - Allowing Residents to Complete Daily Errands without a Car!
- The Property is Offered For Sale for the First time in 24 years
Executive Summary
Eric Dilanian with The Dilanian Real Estate Advisors, as part of RE/MAX Commercial & Investment Realty, is proud to present an exceptional investment opportunity in Prime Eagle Rock:
A rare mid-century 7-unit apartment building with one unit delivered vacant, situated on approximately ± 8,426 square feet of land in the highly sought-after Eagle Rock neighborhood, nestled on a quiet and quaint residential street. Offered for sale for the first time in approximately 24 years, the property presents compelling value-add and development upside, including the potential to add multiple detached ADUs at the rear of the lot by utilizing SB 1211.
Constructed in 1966, the property totals approximately ± 5,112 square feet and features an excellent unit mix consisting of three (2-bedroom / 1.5-bath) units, three (1-bedroom / 1-bath) units, and one (3-bedroom / 2-bath) unit “owners unit”. The property is zoned RD1.5-1 and designated Tier 3 TOC.
Ideally located in the heart of Eagle Rock, the property boasts a Walk Score of 90 (“Walker’s Paradise”), allowing residents to complete daily errands without a car, and is within close proximity to Occidental College, Sprouts Farmers Market, and popular neighborhood destinations such as Creature's Plants and Coffee, Starbucks, Capri Club, Little Beast, Cindy's, and CaCao.
**Disclosure:** Buyers are advised to conduct thorough due diligence, including verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly.
**DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY **
A rare mid-century 7-unit apartment building with one unit delivered vacant, situated on approximately ± 8,426 square feet of land in the highly sought-after Eagle Rock neighborhood, nestled on a quiet and quaint residential street. Offered for sale for the first time in approximately 24 years, the property presents compelling value-add and development upside, including the potential to add multiple detached ADUs at the rear of the lot by utilizing SB 1211.
Constructed in 1966, the property totals approximately ± 5,112 square feet and features an excellent unit mix consisting of three (2-bedroom / 1.5-bath) units, three (1-bedroom / 1-bath) units, and one (3-bedroom / 2-bath) unit “owners unit”. The property is zoned RD1.5-1 and designated Tier 3 TOC.
Ideally located in the heart of Eagle Rock, the property boasts a Walk Score of 90 (“Walker’s Paradise”), allowing residents to complete daily errands without a car, and is within close proximity to Occidental College, Sprouts Farmers Market, and popular neighborhood destinations such as Creature's Plants and Coffee, Starbucks, Capri Club, Little Beast, Cindy's, and CaCao.
**Disclosure:** Buyers are advised to conduct thorough due diligence, including verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly.
**DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY **
Property Facts
| Price | $1,450,000 | Property Subtype | Apartment |
| Price Per Unit | $207,143 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.91% | Lot Size | 0.19 AC |
| Sale Condition | 1031 Exchange | Building Size | 5,112 SF |
| Gross Rent Multiplier | 10.54 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1966 |
| Property Type | Multifamily | Parking Ratio | 1.76/1,000 SF |
| Zoning | RD1.5 | ||
| Price | $1,450,000 |
| Price Per Unit | $207,143 |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.54 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,112 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | RD1.5 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 3 | - | 1 |
| 1+1 | 3 | - | 1 |
| 3+2 | 1 | - | 1 |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5685-005-016 | Improvements Assessment | $384,090 |
| Land Assessment | $398,861 | Total Assessment | $782,951 |
Property Taxes
Parcel Number
5685-005-016
Land Assessment
$398,861
Improvements Assessment
$384,090
Total Assessment
$782,951
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7 Units Eagle Rock | Detached ADU Potential | 2233 Addison Way
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