2221 ADDISON WAY
LOS ANGELES, CA 90041

$2,100,000

8 Beds

8 Baths

5,144 Sq Ft

Status Active

MLS# 24-390355

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.

Details for 2221 ADDISON WAY

$408 / Sq Ft

6 parking spaces

Wall Gas

23 Days on website

0.2902 acres lot

Interior

Bathrooms Total

Bedrooms Total

Laundry Features

None

Living Area

5,144 SqFt.

Building And Construction

Number Of Units Total

Property Sub Type

Multi Family

Property Type

Residential Income

Security Features

["Smoke Detector"]

Year Built

1925

Exterior And Lot

Lot Size Acres

0.2902

Lot Size Square Feet

12641

Parking Features

Garage

Parking Total

Pool Features

["None"]

Zoning

LARD1.5

Utilities

Cooling

["Window Unit(s)"]

Heating

Wall Gas

Water Heater Features

Water Heater Unit

Area And Schools

City

Los Angeles

County Or Parish

Los Angeles

Financial Info

Gross Operating Income

140463

Gross Rent Multiplier

14.50

Price Per Sq Ft

408.24