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1520 Yosemite Drive

Los Angeles (City), CA 90041
  • $18,850,000
  • STATUS: Active
  • ON SITE: 9 Days
  • ID#: 22182627
UPDATED: 40 min ago
$18,850,000
  • 0
    BEDS
  • 0.96
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1986
County:

School Ratings & Info

Listing Agent(s): Benjamin J. Hsiang of Realty Investment Advisors, Inc. (424-377-6001)


Description

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

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-08T00:25:59.26. 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 deemed reliable but is not guaranteed accurate by the MLS or Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
www.livelovebeachcities.com/homes/131404822
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1520 Yosemite Drive Los Angeles (City), CA 90041

  • Price: $18,850,000
  • Status: Active
  • On Site: 9 Days
  • Updated: 40 min ago
  • ID#: 22182627
0
Beds
0
Baths
0
½ Baths
0.96
Acres
1986
Built
Neighborhood:
618 - Eagle Rock
County:
Los Angeles
Area:
618 - Eagle Rock
Property Description
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
Exterior Features

Carport YN Yes Parking Features CoveredCarport Parking Total 106 Pool Features None Pool Private YN No Spa Features None Spa YN No

Interior Features

Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(S)

Property Features

Association Fee 0 Gross Income 1101888 Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 667951 New Construction YN No Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 10 Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-08T00:25:59.26. 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 deemed reliable but is not guaranteed accurate by the MLS or Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
 
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Bathurst Coastal Properties | Compass
2141 Rosecrans Ave, Suite 1120
El Segundo CA, 12345
Listing Agent(s): Benjamin J. Hsiang of Realty Investment Advisors, Inc. (424-377-6001)