122 N Rampart Boulevard

Los Angeles, CA 90026

$1,500,000

List Price

10

bed Beds

8

shower Baths

4,446 sqft

straighten / sqft

1960

calendar_month Built

Property Description

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.

Listing Information

List Price $1,500,000
Status Active Under Contract
MLS 24439995
Type Residential Income
Year Built 1960
Lot Size 6,880
Structure Size 4,446
DOM 19
Courtesy Of Lyon Stahl Investment Real Estate, Inc.
Listing Agent Jake Glaser DRE#02128816

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms 10
Total Bathroom
Bathrooms 8

Exterior Information

Maps

Listing information courtesy of: Jake Glaser, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 4th, 2024 at 8:19 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.