Listed by Eric Dilanian, Remax Commercial and Investment Realty,

5944 Echo Street

Los Angeles, CA, 90042

$1,050,000

$262 per ft²
$1,050,000
$262 per ft²
Sold
Sold
beds
12 Beds
baths
6 Baths
carpenters-square
4,000 ft²
property_type
Multi-family
calendar
Built 1985
We are pleased to present for sale a 5 Unit tremendous value-add multifamily investment opportunity a block from famous Figueroa Street in one of LA's Hottest Rental Locations Highland Park! For the first time on the market in 40+ Years, 5944 Echo Street, offers investors an opportunity to add substantial value with 214% upside potential. The original family/ownership built 3 Units in 1985 atop (2) Units that were constructed in 1923. (3) of the (5) units are 2 Bedroom & 1 Bath Units and (2) Units are 3 Bedroom and 1 Bath Units. The property boasts a total square footage of 4,000 SF, situated on an expansive lot size of 7,243, and zoned RD2-1-HPOZ, with plenty of parking available for tenants. The property provides the opportunity to construct an ADU at the rear of the lot Buyer to Verify. Strategically located 1 block south of famous Figueroa St, the property is nestled in the best retail pocket of NELA, with direct walking access to Figueroa retail corridor which provides countless eateries, trendy bars, retail, and coffee shops, and not to mention steps away from The Gold Line. Considered "Walker's Paradise" with a (96) walk-score, where daily errands do not require a car. This rare opportunity is poised for an astute investor looking to capture strong market returns on a supply constrained product in a booming area where prices and rents continue to appreciate Year-over-Year. Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, unit mix, year built, zoning/HPOZ, market rents, and the ability to construct an ADU. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.
MLS® ID:
22214879
Listed:
11/2/22
Updated:
12/9/22

Interior Features

Total Bedrooms
12
Total Bathrooms
6
Heating
Wall Furnace

Exterior/Building Features

Lot Size
7,244 ft² lot

Other Property Details

Area Name
632 - Highland Park
Garage
No
Parking
Detached Carport
Parking Total
10.0
View
N
County
Los Angeles
Pool
No
Total Stories
2
Zoning
LARD2

Property History

Date
Event
Price
Value
12/7/22
Sold
-
-
12/7/22
Price Change
$1,050,000
-8%
11/23/22
Pending
-
-

Courtesy of Remax Commercial and Investment Realty, Eric Dilanian,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/9/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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