Los Angeles, CA 90026,143 N Reno ST
Los Angeles, CA 90026,143 N Reno ST
Los Angeles, CA 90026,143 N Reno ST
Los Angeles, CA 90026,143 N Reno ST
Los Angeles, CA 90026,143 N Reno ST
Los Angeles, CA 90026,143 N Reno ST
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Dusty Mulhearn

Dusty Mulhearn

Real Brokerage

+1(949) 500-6274
$ 2,300,000
Est. payment | /mo

5,998 Sqft Lot


Save
$ 2,300,000
Est. payment | /mo
Save

5,998 Sqft Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25041703

Construction Status Repairs Cosmetic

HOA Y/N No

Year Built 1927

Lot Size 5,998 Sqft

Property Sub-Type Apartment

Property Description

A 16-unit bread-and-butter Value-Add Opportunity in Rampart Village neighborhood. The property has been with the same ownership for more than 25 years. It is located on a side residential street and centrally situated only several blocks south of Silver Lake area and Silver Lake Blvd. Bordering Silver Lake, Echo Park, and Koreatown area, this location provides consistently high demand for apartment units. The offering provides an attractive high CAP Rate with proforma CAP Rate close to 10%.
Built in 1927, the property offers large building size totaling ±9,240 SF of square footage on a sizeable ±6,000 SF lot. The property is an easily maintained two-story building, with a good unit mix of four (4) x 1bed+1bath, and twelve (12) large studios. It has an unusually wide hallway area which provides a good common area atmosphere to the building. The building has been well maintained by the current owner with some notable capital improvements in recent years which include electrical panels upgrade, and a foundation strengthening recently.
Each unit offers a spacious and functional layout which includes large full kitchens & bathroom (with bathtub) with a large closet space (some are walk-in closets). Some units have been somewhat updated with vinyl wood flooring, and updated kitchen. Studio units are spacious with an estimated size around 400-500 SF each (buyer to verify). Two of the studios are vacant and may be delivered vacant.
The property has a basement that is being used as a shared laundry room and master water heater area. Laundry machines are leased. The property has a secure entrance, is master metered for utilities and water, and has a flat roof.

Centrally located in Rampart Village area and only blocks away from Silver Lake area and Silver Lake Blvd, this property is adjacent to Echo Park, Koreatown and only minutes away Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Koreatown, Silver Lake, Echo Park, Central Los Angeles, Melrose Hill, East Hollywood, Historic Filipino town, and Angelino Heights.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet, Laminate, Vinyl, Wood

Fireplaces Type None

Fireplace No

Appliance Gas Range

Laundry Common Area

Exterior

Parking Features None

Pool None

Community Features Urban, Gated

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Flat

Private Pool No

Building

Lot Description Level, Near Public Transit, Rectangular Lot, Street Level

Faces Southeast

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Repairs Cosmetic

Others

Senior Community No

Tax ID 5156011003

Security Features Carbon Monoxide Detector(s),Gated Community,Resident Manager,Smoke Detector(s)

Energy Description 5152.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Han Chen • Growth Investment Group Pasade • han.chen@growthinvestmentgroup.com
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143 N Reno ST