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    1110 S Lake St

    Los Angeles, CA 90006
    • $4,650,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: 20-632272
    $4,650,000
    • 9
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,580
      SQFT
    • $319
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1917
    County:

    School Ratings & Info

    Description

    AVAILABLE NOW The Lakeview Terrace apartments located in historic Pico-Union, Los Angeles. 27 professionally-managed units with over 25% upside situated on a wide street bounded by turn of the century homes and apartments. Investment-grade multifamily asset, stabilized 6% cap, separately metered for gas and an excellent opportunity to implement RUBS. Attractive assumable financing in-place (see Offering Memorandum Year-3 Forecast and call for details). Gated parking lot for 5, a mix of 9 1-bedroom 1-bath and 18 studio apartments, approximately 9 of 27 renovated with original hardwood flooring, exposed masonry walls, quartz counter tops and period appointments. Beau arts design, gentrifying location, $172k/unit, big upside, what a deal!

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T23:42:31.58. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.lydiagable.com/homes/109983629
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    1110 S Lake St Los Angeles, CA 90006

    • Price: $4,650,000
    • Status: Active
    • ID#: 20-632272
    9
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    14,580
    SQFT
    $319
    $/SQFT
    1917
    Built
    Neighborhood:
    Downtown L.A.
    County:
    Los Angeles
    Area:
    Downtown L.A.
    Property Description
    AVAILABLE NOW The Lakeview Terrace apartments located in historic Pico-Union, Los Angeles. 27 professionally-managed units with over 25% upside situated on a wide street bounded by turn of the century homes and apartments. Investment-grade multifamily asset, stabilized 6% cap, separately metered for gas and an excellent opportunity to implement RUBS. Attractive assumable financing in-place (see Offering Memorandum Year-3 Forecast and call for details). Gated parking lot for 5, a mix of 9 1-bedroom 1-bath and 18 studio apartments, approximately 9 of 27 renovated with original hardwood flooring, exposed masonry walls, quartz counter tops and period appointments. Beau arts design, gentrifying location, $172k/unit, big upside, what a deal!
    Exterior Features

    Covered Parking 0 Entry Location Ground Level W/Steps Exterior Construction Brick Lot Description Fenced Lot Location Alley Access Lot Size Area 8711 Other Structures None Parking Garage Controlled Entrance Paved YN Yes Pool Description None Pool YN No Roof Flat Spa None Spa YN No Style Architectural Total Parking 5 View Description City LightsCity View YN Yes

    Interior Features

    Baths Total 27.00 Cooling Window Unit(S) Equipment Ceiling FanGarbage DisposalIntercomRange/OvenSolar Panels Flooring HardwoodLaminate Heating Wall Gas Laundry Community Laundry Equipment Lease Windows Double Pane Windows

    Property Features

    Alley YN Yes Assessed Total Value 2677500 Gross Income 368578 Gross Operating Income 357812 Land Lease Type Fee Like Units1 18 Like Units2 9 Net Operating Income 182148.00 Number Of Buildings 1 Number Of Units 27 Rent Control YN Yes Sale Type Standard Security Features Card/Code AccessGatedFire Sprinklers Sewer In Street Source Living Area Vendor Enhanced Source Lot Size Area Assessor Tenant Pays Gas Total Annual Expense 175664 Type Of Units Studio & 1+1 Water District Year Built Source Vendor Enhanced Zoning Lacr

    Listing provided courtesy of Adam Peterson DRE#01815802 of Cb Richard Ellis, Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T23:42:31.58. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377