Listed By:
Roderick 'Rick' Raymundo with Marcus & Millichap;
Address
1120 Logan Street, Los Angeles, CA
Price
$ 1,995,000
Property Attributes
  • MLS#23268384
  • TypeMulti-Family
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaSilver Lake - Echo Park
  • Zip90026
  • Style
  • Price$ 1,995,000
  • Bedrooms10
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage4912
  • Lot Size6,268 SqFt
Data Source:
California Regional MLS (CRMLS)
Property Description

With current rents averaging approximately $1.79 per square foot, a new owner can nearly double the property's income by matching the area's market rents that have surpassed $3.50 per square foot. One-quarter of the units have already been substantially upgraded, providing a blueprint for a new investor to follow and recapture the rent upside. Renovated units feature new wood flooring, quartz countertops, new custom cabinets, stainless steel appliances, tile backsplashes, new lighting, and remodeled bathrooms. Built in 1962, the property is nestled between Echo Park Lake and Sunset Boulevard, sitting just one block from both one of Los Angeles' most popular parks and one of the city's trendiest streets. As the neighborhood has gentrified in recent years, new shops and restaurants have emerged along both Sunset Boulevard and Glendale Boulevard, providing numerous destinations within blocks of the property. The building has therefore received a Walk Score of 93, with the immediate area considered a "Walker's Paradise."

Price History
5/10/2023 Listed $1,995,000

General Features

Interior Features CeilingFans
Zoning LAR3
Year Built 1962
Levels MultiSplit
Gross Income 107424.0
County Los Angeles
Net Operating Income 52176.0
New Construction No
Property Type ResidentialIncome
HOA / Comm Assn No
Attached Garage No
Garage Y/N No
Special Listing Conditions Standard
Status Active
Directions We are pleased to announce the opportunity to purchase 1120 Logan Street,an eight-unit multifamily property located just one block from Sunset Boulevard within the Echo Park neighborhood of Los Angel
City Los Angeles
View Y/N No
Senior Community Y/N No
Total Units 8
MLS Area C21 - Silver Lake - Echo Park
Lot Size Square Feet 6269.0
Private Pool No
Waterfront Y/N No
Carport Y/N No
Street Name Logan
Property Attached Y/N No
Land Lease Y/N No
Home Warranty Y/N No
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 212
Standard Status Active
Cap Rate 2.62
MobileHomeRemainsYN No

Interior Features

Total Stories 2
Basement (Y/N) No
Air Conditioning Y/N No
Heating Y/N No
Fireplace Y/N No
Street Suffix Street
Total Bedrooms 10
Electric On Property Y/N No
Total Baths 10

Exterior Features

Parking Features Assigned
Total Parking 8.0
Lot Size Area 6269.0
Number of Buildings 1
Spa No
Building Area Total 4912.0
Lot Size Acres 0.1439
Lot Size Units SquareFeet
Lot Size Source Estimated
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No

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 Multi-Family Average in 90026

Price
AVG $1.98M
$2M
Visits
AVG 106
227
Data Provided by Inside Real Estate®
Year Built
AVG 1939
1962
Walkscore
AVG 85
97
Data Provided by Walkscore® not using MLS data