Listed by Benjamin Hsiang, Realty Investment Advisors, Inc.,

1520 Yosemite Drive

Los Angeles, CA, 90041

$18,850,000

$512 per ft²
$18,850,000
$512 per ft²
Active
Active
 - For Sale
carpenters-square
36,788 ft²
property_type
Multi-family
calendar
Built 1986
We are pleased to present the opportunity to acquire a rare, 53-unit, multifamily value-add opportunity at 1520 Yosemite Drive in Eagle Rock, California. Offered for the first time in over 35 years, 1520 Yosemite is ideally situated in the center of Occidental College, Colorado Blvd, Eagle Rock Blvd & York Blvd Shopping, Cafes, Restaurants, Bars & Transportation. Delivered with 10 vacant units, this newer 1986 construction property offers an investor an extremely rare opportunity for a generational asset in one of the highest rental demand submarkets in Los Angeles. Not subject to the City of La Rent Stabilization Ordinance, an investor can take advantage of the statewide allowable rent increases (lower of 5% + CPI or 10%). The current long-term owner hasn't increased rents for years so all the units are eligible for max rent increases. The property consists of one free standing 2 bed 1 bath house, twenty-four 2 bed 1.5 bath units and twenty-eight 1 bed 1 bath units with balconies in every unit. With 53 tandem parking spaces (106 total), this is a great opportunity for an investor to convert some of the parking into additional ADUs to create substantially more revenue
MLS® ID:
22182627
Listed:
7/28/22
Updated:
8/14/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Interior Features
Ceiling Fan(s)
Laundry Description
Common Area
Heating
Wall Furnace

Exterior/Building Features

Lot Size
0.96 acres lot

Other Property Details

Area Name
618 - Eagle Rock
Garage
No
Parking
Covered, Carport
Parking Total
106.0
View
N
County
Los Angeles
Pool
No
Pool Description
None
Total Stories
3
Zoning
LARD1.5

 

Listed by Benjamin Hsiang, Realty Investment Advisors, Inc.,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/14/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 6:44 PM UTC, 8/14/22

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