$4,775,000
$5,150,000
7.3%For more information regarding the value of a property, please contact us for a free consultation.
0.34 Acres Lot
SOLD DATE : 01/31/2023
Key Details
Sold Price $4,775,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW22233251
Sold Date 01/31/23
HOA Y/N No
Year Built 1930
Lot Size 0.341 Acres
Property Sub-Type Apartment
Property Description
Pleased to present Fair Park Avenue Apartments, a 24 Unit Value-Add opportunity in the highly desirable neighborhood of Eagle Rock. The Fair Park Apartments were built in 1930, and consist of (20) Studios and (4) 1-Bedroom/1-Bathrooms. The Property is located within walking distance of the best that Eagle Rock has to offer – chic restaurants and coffee shops, hip retail stores, parks, Occidental College, and more. About half of the units have been recently updated, and the electrical was completely redone, including installing separate meters for each unit. Several units have long term tenants with rents that are well below market, offering tremendous upside through rental increases and/or renovated units as they come vacant.
Location
State CA
County Los Angeles
Area 618 - Eagle Rock
Zoning LAC4
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 7
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5686017009
Energy Description 2036.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Other
Special Listing Condition Standard
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Bought with Michael Dixon NAI Capital, Inc.
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2020 Camino del Rio North Suite 800 San Diego, CA, 92108