$1,649,000
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222 Roselake Avenue Los Angeles, CA 90026
Mixed Use
Residence
Beds
Baths
4,716
Sq. Ft.
0.1
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
Saves
**10.03 GRM / 6.18% CAP In place +/- & 7.97 GRM / 8.60% CAP @ Market +/- & Three (3) RTI Adu's**
We are pleased to present the opportunity to acquire The Roselake in the submarket of Historic Filipinotown (LA Market) and in close proximity to Echo Park, Hollywood, Koreatown, and DTLA. This offer...ing includes a 10-unit multifamily building built in 1965 with a footprint of approximately 4,716 SF, sitting on a 4,423 SF corner lot zoned LAR4.
The Roselake offers an investor a significant value-add opportunity with approximately 25.88% (+/-) of potential upside in rents spread across a desirable unit mix. Delivered with 3 RTI ADUs, the property provides strong in-place income and upside potential. Additionally, it benefits from exceptional visibility and frontage, a low cost per unit, and the possibility of leveraging the high demand for both market-rate and Section 8 tenants. This well-located multifamily property offers a rare opportunity to secure a corner lot with parking and laundry, in a high-demand rental pocket surrounded by new development and continued gentrification.
The Roselake is situated in Historic Filipinotown, a diverse and vibrant neighborhood. The property is located close to Echo Park, Hollywood, Koreatown, and Downtown Los Angeles, providing easy access to cultural and commercial hotspots. Historic Filipinotown offers a mix of history and growth, making it a highly attractive area for tenants. Additionally, the property is near Echo Park Lake, numerous cafes, restaurants, and other amenities, offering a rich living experience. This neighborhood continues to experience growth due to its centrality and ongoing gentrification.
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MLS#
SR24198547
Property Type
Mixed Use
Status
Year Built
1965
Square Feet
4,716
sq. ft
Lot Size
0.1
Stories
2.0
Sewer
Public Sewer
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