Address
1214 S Lake Street Los Angeles, CA
Price
$ 5,395,000
Property Attributes
  • MLS#20669164
  • TypeContingent
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaDowntown L.A.
  • Zip90006
  • Style
  • Price$ 5,395,000
  • Bedrooms37
  • Full Bathrooms37
  • Half Bathrooms0
  • Lot Size8,700 SqFt
Listing Provided Courtesy Of:
Neema Ahadian with Marcus & Millichap.
Data Source:
CRMLS
Property Description

Built in 1914, this 37-unit property is located in the Westlake neighborhood just north of S Alvarado Street between 11th St and Pico Blvd, providing easy access to the 10 & 110 Freeways, Downtown Los Angeles and Koreatown. The subject property totals 20,460 SF featuring a unit mix that includes 25 singles, 11 one-bedrooms and one one-bedroom plus den. The majority of rents are currently under-market, providing a true value-add opportunity to capture the 50% rental upside through an interior renovation program when units turn.Furthermore, the basement features hookups allowing an investor to install community laundry for additional income. At the asking price, the property is being offered for a low $145,811 per unit and $264 per square foot.1214 S Lake St has been well-maintained by ownership with recent capital expenditures over the last four years including common area flooring and paint, new security camera system and intercom, exterior trim paint... etc

Price History
12/11/2020 Listed $5,500,000
2/5/2021 2% - $5,395,000

General Features

Appliances Disposal
Cooling Wall/Window Unit(s)
Flooring Wood
Heating Wall Furnace
Listing Agent Neema Ahadian - BRE#01346750
Listing Agent State License 01346750
MLS Area C42 - Downtown L.A.
Parking Features None
Property Type Residential Income
Special Listing Conditions Standard
Status Active Under Contract
Total Units 37
Zoning R4-1-HPOZ

Interior Features

Air Conditioning Y/N Yes
Heating Y/N Yes

Exterior Features

Lot Size Acres 0.19
Lot Size Area 8700
Lot Size Square Feet 8700
Lot Size Units Square Feet
Number of Buildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 90006

Price
AVG $1.74M
$5.4M
Visits
AVG 67
210
Year Built
AVG 1955
1914
Walkscore
AVG 93
95
Data Provided by Walkscore ® not using MLS data

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