Active
122 N Rampart Blvd
Los Angeles CA, 90026
$1,500,000
$337.38 per sqft
Active
10 Beds
8 Baths
4,446 sqft
Multi-family
Built in 1960
COPPER PLUMBING & SOFT-STORY RETROFIT COMPLETED...Fantastic 8-unit investment property located in the up and coming Rampart Village neighborhood, directly adjacent to Silverlake, Echo Park and Koreatown. The well-maintained mid-century apartment complex, built in 1960, offers a total of 4,446 square feet of living space on a 6,878 SF lot zoned R3, with a strong unit mix of (6) 1-bedroom/1-bath units and (2) 2-bedroom/1-bath units. The building features several recent upgrades: all above ground plumbing was replaced with copper, both soft-story retrofits were completed in 2018, the water heater was replaced in 2019, the driveway was recently re-paved, and all 9 seismic gas shut-off valves have been installed. The roof has also received regular annual maintenance. While the property is comprised of longer term tenants, about half of the units have been upgraded with new kitchens. There are two tuck-under parking areas at the front and back of the building with 12 spots in total (8 spots without tandem parking). The property is also separately metered for gas & electric. Lastly, there's an on-site laundry room which provides additional monthly income. The building has been under the same ownership for over 11 years and there is still 42% upside in rental income remaining. The property's various system upgrades and longer term tenants, combined with its excellent location near trendy neighborhoods and vibrant cultural hubs, make this a fantastic investment opportunity.
24-439995
MLSⓇ ID
September 15, 2024
Listed
September 16, 2024
Updated
Map
122 N Rampart Blvd
Los Angeles CA, 90026
Interior Features
Total Stories
2
Bedrooms
10
Total Bathrooms
8
Appliances
None
Laundry Description
Community
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.16 Acres
Architectual Style
Mid-Century
Other Property Details
Area Name
Silver Lake - Echo Park
Garage
No
Parking
Covered Parking, Uncovered, Tandem
Parking Total
12
View
No
View Description
None
County
Los Angeles
Pool
No
Zoning
LAR3
Listed by Jake Glaser with Lyon Stahl Investment Real Estate, Inc.
Listing Contact: 310-230-5157
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Iota Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 9/16/2024