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222 Roselake Ave

Los Angeles, CA 90026
  • $2,500,000
  • STATUS: Active
  • ON SITE: 15 days
  • ID#: 21-761384
$2,500,000
  • 5
    BEDS
  • 0.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,716
    SQFT
  • $530
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Description

222 Roselake Avenue is a 10-unit, two story complex built on the corner of W. Court St. & Roselake Ave. just south of Temple and west of Alvarado St. between Echo Park and Rampart Village. There are 8 parking spaces. The area is red hot and improving with new construction underway across the street. The building was originally built in 1965 and is separately metered for both gas and electric. Tenants also pay for trash. This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-30T23:42:36.523. 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.brandiprattrealestate.com/homes/119348866
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222 Roselake Ave Los Angeles, CA 90026

  • Price: $2,500,000
  • Status: Active
  • ID#: 21-761384
5
Beds
0
Baths
0
½ Baths
0.1
Acres
4,716
SQFT
$530
$/SQFT
1965
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
222 Roselake Avenue is a 10-unit, two story complex built on the corner of W. Court St. & Roselake Ave. just south of Temple and west of Alvarado St. between Echo Park and Rampart Village. There are 8 parking spaces. The area is red hot and improving with new construction underway across the street. The building was originally built in 1965 and is separately metered for both gas and electric. Tenants also pay for trash. This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.
Exterior Features

Lot Size Area 4423 Other Structures None Parking Garage Covered ParkingUncovered Total Parking 8

Interior Features

Baths Total 10.00 Cooling Other Equipment Range/Oven Heating Other

Property Features

Assessed Total Value 1090299 Gross Income 142309 Gross Operating Income 138040 Like Units1 6 Like Units2 3 Like Units3 1 Net Operating Income 70142.00 Number Of Buildings 1 Number Of Units 10 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 67898 Type Of Units S1+12+1 Year Built Source Vendor Enhanced Zoning Lar4

Listing provided courtesy of David Kaufman DRE#01217537 of David Ballin Kaufman.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-30T23:42:36.523. 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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eXp Realty of California, Inc.
2603 Camino Ramon, Suite 200
San Ramon CA, 94583