1259 Vin Scully Ave - Apartments FOR SALE


Los Angeles, CA 90026- Echo Park
$958,000 USD
213-943-1897
1259 Vin Scully Ave, Los Angeles, CA for Sale
$958,000 USD
Apartments - FOR SALE
1/7
null | 3.79% Cap Rate

1259 Vin Scully Ave
Los Angeles, CA 90026
Echo Park


HIGHLIGHTS

  • There is 133 percent remaining rental upside through interior renovations
  • Prime Echo Park location with convenient access to jobs, retail, nightlife, and entertainment in Echo Park, Silver Lake, and Downtown LA
  • Being offered for sale at an extremely attractive basis of $191,600 per unit
  • A favorable unit-mix, offering one, two and three bedroom units
  • The 2028 Summer Games are expected to boost LA’s real estate market through major infrastructure, neighborhood, and venue upgrades

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a five-unit apartment building located at 1259 Vin Scully Avenue in Los Angeles, CA. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket. Over the past decade, Echo Park has become one of the most desirable neighborhoods in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents on the Eastside of L.A. Situated on a 6,755 square foot parcel, the property is comprised of two one-bedroom units, two two-bedroom units, and one three-bedroom unit. The property’s irreplaceable location, north of Sunset Boulevard coupled with the significant value-add potential and attractive basis makes 1259 Vin Scully Avenue an excellent acquisition opportunity for investors. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. The property is being sold as part of a two-building portfolio, including a seven unit (1242 Lilac Place) directly adjacent, which is available individually or any combination as a portfolio purchase.

FOR SALE DETAILS

PRICE

$958,000 USD

PRICE/SF

$280 USD /SF

# OF UNITS

5

PRICE/UNIT

$191,600

CAP RATE

3.79%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5-Units in Prime Echo Park | Value-Add

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,755 SF

ZONING

LAR4

APN/PARCEL ID

5406-012-028

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.