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Karen Hiatt

karen.hiatt@engelvoelkers.com +1(805) 551-1225

Listed by Han Chen • Growth Investment Group Pasade

$ 2,300,000

Est. payment -/mo

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Active

143 North Reno Street Los Angeles, CA 90026

9,240 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 9,240 sqft

Price per Sqft $248

MLS Listing ID AR-25041703

Year Built 1927

Lot Size 6,000 Sqft

Property Sub-Type Apartment

Property Description

A 16-unit bread-and-butter Value-Add Opportunity in Rampart Village neighborhood. The property has been with the same ownership for more than 25 years. It is located on a side residential street and centrally situated only several blocks south of Silver Lake area and Silver Lake Blvd. Bordering Silver Lake, Echo Park, and Koreatown area, this location provides consistently high demand for apartment units. The offering provides an attractive high CAP Rate with proforma CAP Rate close to 10%. Built in 1927, the property offers large building size totaling ?9,240 SF of square footage on a sizeable ?6,000 SF lot. The property is an easily maintained two-story building, with a good unit mix of four (4) x 1bed+1bath, and twelve (12) large studios. It has an unusually wide hallway area which provides a good common area atmosphere to the building. The building has been well maintained by the current owner with some notable capital improvements in recent years which include electrical panels upgrade, and a foundation strengthening recently. Each unit offers a spacious and functional layout which includes large full kitchens & bathroom (with bathtub) with a large closet space (some are walk-in closets). Some units have been somewhat updated with vinyl wood flooring, and updated kitchen. Studio units are spacious with an estimated size around 400-500 SF each (buyer to verify). Two of the studios are vacant and may be delivered vacant. The property has a basement that is being used as a shared laundry room and master water heater area. Laundry machines are leased. The property has a secure entrance, is master metered for utilities and water, and has a flat roof. Centrally located in Rampart Village area and only blocks away from Silver Lake area and Silver Lake Blvd, this property is adjacent to Echo Park, Koreatown and only minutes away Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Koreatown, Silver Lake, Echo Park, Central Los Angeles, Melrose Hill, East Hollywood, Historic Filipino town, and Angelino Heights.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet, Laminate, Vinyl, Wood

Fireplaces Type None

Laundry Common Area, Community

Exterior

Parking Features None

Pool None

Community Features Urban

Utilities Available Sewer Connected, Water Connected, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N No

View None

Building

Lot Description Level, Level with Street, Near Public Transit, Rectangular Lot

Sewer Public Sewer

Karen Hiatt

Advisor | License ID: 01966162

+1(805) 551-1225

Karen Hiatt

143 North Reno Street Los Angeles, CA 90026

Key Details

Location

Interior

Exterior

Building

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143 North Reno Street