1401 Portia Street

    Los Angeles (City), CA 90026
    • $1,350,000
    • STATUS: Closed
    • ON SITE: 85 days
    • ID#: 18359424
    Sold - 08/31/2018
    $1,350,000
    SOLD - 08/31/2018
    • 0
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,206
      SQFT
    • $421
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1920
    County:

    School Ratings & Info

    Description

    There are very very few quality income properties available in Prime Echo Park, but here is one for you! On the downside, there are two low rent tenants, one of whom (the 3/2) will probably not be leaving for some time. But the other one is on a waiting list for low income housing and will likely be gone within the year. These is also a newly renovated one bedroom getting market rent and another newly renovated two bed two bath that will fetch $3,000/mo once rented. Or, you can live in it! Finally, there is a half renovated two bed two bath basement (unpermitted) unit that is waiting for you to complete it. Without the basement unit, you are looking at a total of $7k/mo income right this minute. When the low income housing person moves out and you renovate that one, that will be another $1800/mo of income. The basement unit represents an additional $2500/mo of income (!) once you complete those renovations The location is fantastic and there is plenty of parking. Come get it!

    Sold by Ken Shapiro of Silverwood Properties.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-21T22:33:23.84. 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.
    www.playavistaliving.com/homes/85075045

    1401 Portia Street Los Angeles (City), CA 90026

    • Price: $1,395,000
    • Status: Closed
    • Updated: 71 min ago
    • ID#: 18359424
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    3,206
    SQFT
    $421
    $/SQFT
    1920
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    There are very very few quality income properties available in Prime Echo Park, but here is one for you! On the downside, there are two low rent tenants, one of whom (the 3/2) will probably not be leaving for some time. But the other one is on a waiting list for low income housing and will likely be gone within the year. These is also a newly renovated one bedroom getting market rent and another newly renovated two bed two bath that will fetch $3,000/mo once rented. Or, you can live in it! Finally, there is a half renovated two bed two bath basement (unpermitted) unit that is waiting for you to complete it. Without the basement unit, you are looking at a total of $7k/mo income right this minute. When the low income housing person moves out and you renovate that one, that will be another $1800/mo of income. The basement unit represents an additional $2500/mo of income (!) once you complete those renovations The location is fantastic and there is plenty of parking. Come get it!
    Exterior Features

    Lot Features Sprinklers None Lot Size Source See Remarks Lot Size Units Square Feet Parking Features Assigned Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 5.00 Gross Multiplier 14.10 Gross Operating Income 98856.00 Improvements Amount 141924 Land Value 246510 Laundry YN Yes Net Operating Income 69199.00 Special Listing Conditions Standard Total Expenses 29656.00 Zoning Lard1.5

    Listing provided courtesy of Ken Shapiro of Silverwood Properties.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-21T22:33:23.84. 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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