Just Listed – Fourplex in Echo Park
Grant Goldman and Johnnie Stiegler are pleased to present 1530 Ewing St, a 4-unit property in Los Angeles!
This property is listed for $1,800,000
1530 Ewing St is an attractive 4-unit apartment community located in the highly sought-after Echo Park area, known for tremendous rent growth and very low vacancy rates. This charming investment property appeals to renters that are drawn to the vibrant and youthful feel of the Williamsburg of the West Coast otherwise known as Echo Park. It consists of four two-bedroom and one-bathroom units. In all, the property’s square footage is 2,424 square feet on a 7,366 square foot lot.
1531 Ewing St is currently generating exceptional income offering investors an immediate return. However, the most attractive part of 1530 Ewing is there’s still significant rental upside as you’ll see in the lease comparable section. Current rents are approximately 20% below market rents with market rents being achievable with complete unit and property renovations.
• Unit Mix: (4) 2-Bedroom/1-Bath Units
• 7,366 SF Lot | RD3-1VL
• Gross Income: $115,812 | NOI: $81,419
• Current Cap Rate: 4.52% | Market Cap Rate: 6.04%
• Current GRM: 15.54 | Market GRM: 12.50
• Located in the highly south after area of Echo Park with spectacular views of the skyline
• Close proximity to the 5, 101, & 110 Freeways
• No Seismic Retrofit Required