Sold – 1264 Court St.

Overview

Type
Sqft.
3,833.00
sqft.
Price Per Sqft.
$
229.32
CAP Rate
4.86
%
Lot Size
7,005.00
sqft.

Description

Rosano Partners is pleased to present the opportunity to acquire a four-plex located in the heart of Echo Park. Built in 1914 the subject property offers a unit mix of 1 four-bedroom two-bathroom, 2 one-bedroom one-bathroom, and 1 two-bedroom one-bathroom. Gas and electricity are separately metered while water is mastered. The property has been maintained by the owner as he converted 50% of the plumbing to copper. The construction is made up of stucco and wood-frame and accommodates 5 parking spots for on-site tenants. The average rent per square foot is $1.30 while the market rent is more than $1.71 per square foot depending on improvements and finishes. With rents being 23.9% below market in a location that is continuing to gentrify, a savvy investor can understand why they don’t want to miss this opportunity.

Location Features
The subject property is situated on 1264 Court St near Betty Plasencia Elementary School. The property lies near the intersection of Beverly Boulevard and Glendale Boulevard. Being less than a mile from many schools, restaurants, and entertainment options, tenants will benefit from the local offerings and transportation.

Additional Documents
1264 Court St OM.pdf


Managing Agent

Edward G. Caballero

Senior Associate, Multi-Family Investment Sales
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