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2221 Addison WAY Los Angeles, CA 90041
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Key Details
Sold Price $1,830,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,144 sqft
Price per Sqft $355
MLS Listing ID 24390355
Bedrooms 8
Year Built 1925
Lot Size 0.289 Acres
Property Description
8 Unit income property in highly desirable Eagle Rock - a rare find in a market with extremely limited inventory. All units are 1 Bedroom 1 Bath. Four blocks from Colorado Blvd. Close to Occidental College. Six garages currently being used as storage for tenants. 6 uncovered parking spaces. All units separately metered for gas and electricity and all units have separate water heaters. Foundation bolting completed in 2013. Indicative of the strong rental demand in the local area, this property is fully leased. Upon unit turnover, this property presents an enticing 32% potential upside in rental income, making it a compelling opportunity for growth-minded investors. CONTACT LISTING AGENT FOR FULL OFFERING MEMORANDUM.
Location
State CA
County Los Angeles
Area 618 - Eagle Rock
Zoning LARD1.5
Interior
Laundry None
Exterior
Parking Features Garage
Pool None
Roof Type Tar/Gravel
Building
Foundation Raised
New Construction No
Others
Special Listing Condition Standard
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Bought with Marcus McInerney • Reservoir Partners