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1530 Ewing St, Los Angeles, CA 90026

$1,800,000

Description

Lyon Stahl is proud to present 1530 Ewing St, 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.

Lyon Stahl is proud to present 1530 Ewing St, 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.

Investment Highlights:
• 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

Property Downloads

Address

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on October 29, 2019 at 12:18 am

  • Price: $1,800,000
  • Property Size: 2,424 Sq Ft
  • Land Area: 7,366 Sq Ft
  • Year Built: 1924
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 4
  • GRM: 15.54
  • CAP RATE: 4.52%
  • Price per Unit: $630,000
  • Market GRM: 12.50
  • Market CAP RATE: 6.04%

Contact info

Grant Goldman
Grant Goldman
(310) 598-1233(562) 706-0339
Linkedin
Johnnie Stiegler
Johnnie Stiegler
(310) 990-9685(310) 447-2213

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