2233 Addison Way - Apartments FOR SALE


Los Angeles, CA 90041- Eagle Rock
$1,450,000 USD
213-233-4379
2233 Addison Way, Los Angeles, CA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/19
null | 5.91% Cap Rate

2233 Addison Way
Los Angeles, CA 90041
Eagle Rock


HIGHLIGHTS

  • Eric Dilanian & The Dilanian Real Estate Advisors are Pleased to Present for Sale a 7 Unit in Eagle Rock, with Room for Detached ADUs
  • Building Specs: Built in 1966 | ± 5,112 SF Building | ± 8,246 SF Lot Size | RD1.5-1 Zoning | Tier 3 TOC
  • Unit Mix: Boasting an Excellent Unit Mix of (3) 2 Bed & 1 Bath Units, (3) 1 Bed & 1 Bath Units, and (1) 3 Bed & 2 Bath "Owners Unit"
  • Walk Score: 90! Walker's Paradise - Allowing Residents to Complete Daily Errands without a Car!
  • Close to Occidental College, Sprouts, and popular neighborhood destinations such as Creature's Plants and Coffee, Starbucks, Capri Club, Little Beast
  • The Property is Offered For Sale for the First time in 24 years

OVERVIEW

Eric Dilanian with The Dilanian Real Estate Advisors, as part of RE/MAX Commercial & Investment Realty, is proud to present an exceptional investment opportunity in Prime Eagle Rock: A rare mid-century 7-unit apartment building with one unit delivered vacant, situated on approximately ± 8,426 square feet of land in the highly sought-after Eagle Rock neighborhood, nestled on a quiet and quaint residential street. Offered for sale for the first time in approximately 24 years, the property presents compelling value-add and development upside, including the potential to add multiple detached ADUs at the rear of the lot by utilizing SB 1211. Constructed in 1966, the property totals approximately ± 5,112 square feet and features an excellent unit mix consisting of three (2-bedroom / 1.5-bath) units, three (1-bedroom / 1-bath) units, and one (3-bedroom / 2-bath) unit “owners unit”. The property is zoned RD1.5-1 and designated Tier 3 TOC. Ideally located in the heart of Eagle Rock, the property boasts a Walk Score of 90 (“Walker’s Paradise”), allowing residents to complete daily errands without a car, and is within close proximity to Occidental College, Sprouts Farmers Market, and popular neighborhood destinations such as Creature's Plants and Coffee, Starbucks, Capri Club, Little Beast, Cindy's, and CaCao. **Disclosure:** Buyers are advised to conduct thorough due diligence, including verification of building square footage, unit count, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning & any Q Conditions, market rents, soft-story compliance, and the feasibility of constructing ADUs, additional units, and/or development feasibly. **DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY **

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$284 USD /SF

# OF UNITS

7

PRICE/UNIT

$207,143

CAP RATE

5.91%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Units Eagle Rock | Detached ADU Potential

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,246 SF

ZONING

RD1.5

APN/PARCEL ID

5685-005-016

ASK ABOUT THIS PROPERTY

Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

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Eric DilanianRE/MAX Commercial & Investment RealtyMore Info
213-233-4379

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