CA > Los Angeles
Los Angeles, CA 90026,122 N Rampart Blvd
Los Angeles, CA 90026,122 N Rampart Blvd
Los Angeles, CA 90026,122 N Rampart Blvd
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$1,500,000
Est. payment /mo
10 Beds
8 Baths
4,446 SqFt
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UPDATED:

10/04/2024 08:08 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 4,446 sqft

Price per Sqft $337

MLS Listing ID 24-439995

Style Mid-Century

Bedrooms 10

Year Built 1960

Lot Size 6,880 Sqft

Acres 0.1579

Property Description

COPPER PLUMBING & SOFT-STORY RETROFIT COMPLETED...Fantastic 8-unit investment property located in the up and coming Rampart Village neighborhood, directly adjacent to Silverlake, Echo Park and Koreatown. The well-maintained mid-century apartment complex, built in 1960, offers a total of 4,446 square feet of living space on a 6,878 SF lot zoned R3, with a strong unit mix of (6) 1-bedroom/1-bath units and (2) 2-bedroom/1-bath units. The building features several recent upgrades: all above ground plumbing was replaced with copper, both soft-story retrofits were completed in 2018, the water heater was replaced in 2019, the driveway was recently re-paved, and all 9 seismic gas shut-off valves have been installed. The roof has also received regular annual maintenance. While the property is comprised of longer term tenants, about half of the units have been upgraded with new kitchens. There are two tuck-under parking areas at the front and back of the building with 12 spots in total (8 spots without tandem parking). The property is also separately metered for gas & electric. Lastly, there's an on-site laundry room which provides additional monthly income. The building has been under the same ownership for over 11 years and there is still 42% upside in rental income remaining. The property's various system upgrades and longer term tenants, combined with its excellent location near trendy neighborhoods and vibrant cultural hubs, make this a fantastic investment opportunity.

Location

State CA

County Los Angeles

Area Silver Lake - Echo Park

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Window Unit(s)

Equipment None

Laundry Community

Exterior

Garage Covered Parking, Uncovered, Tandem

Garage Spaces 12.0

View Y/N No

View None

Building

Story 2

Architectural Style Mid-Century

Level or Stories Two

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lyon Stahl Investment Real Estate, Inc.

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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