12 Value-Add Units in Prime Echo Park 

$2,499,000

2135 Bellevue Ave

# of Units: 12

GRM: 17.19

CAP Rate: 2.68%

Price/SF: $326

Building SF: 7,764

Lot SF: 10,391

Zoning: LARD1.5-1VL

Year Built: 1959

Description

EXTREMELY RARE OPPORTUNITY to acquire twelve (12) mid-century units in prime Echo Park!  This is an ideal property to reposition into a modern, highly amenitized building that attracts the top paying tenants flocking to the area and seeking a fun, convenient, and hip Echo Park living experience.  Built in 1959, the property features two studio apts, nine 1BR apts, and one 2BR apt.  The 2BR unit was built as an owner's unit with an open floor plan, fireplace, and private backyard.  There are 10 parking spaces, as well as ample street parking.  Upper units offer wonderful views of the Echo Park hills and some even have peekaboo views of Downtown LA.  The property is separately metered for gas and electricity, and there is one central boiler.  There is also a storage room for the pool equipment and room for communal laundry.  The pool is an excellent amenity that adds significant value to pro forma rents.

Location

Echo Park is a scruffy and continually evolving Eastside neighborhood with vibrant street murals and a lively nightlife scene.  Indie music venues, trendy bars and taco trucks can be found along Sunset Boulevard, along with coffee shops, vegan eats and quirky boutiques.  Echo Park Lake offers paddle boarding among lotus flowers.  Nearby is Dodger Stadium and hiking at Elysian Park.  Angelino Heights is a picturesque nook with Victorian Homes.  Find your inner Zen with a quick Yoga session at Love Yoga East followed by a traditional diner breakfast at Brite Spot. Grab a horchata latte at Tierra Mia before strolling down to the Echo Park Farmer's Market. Enjoy an exquisite dinner at Mohawk Bend, and grocery shopping at local favorite Lassen's. Maybe even enjoy some live music with your friends at The Echo. No matter the preference or occasion, this location has it all!

Property Highlights

  • AMAZING LOCATION WITH HILLTOP VIEWS

  • NICE UNIT MIX OF MOSTLY 1BR APTS

  • 2BR APT WAS BUILT AS OWNER'S UNIT WITH FIREPLACE, PRIVATE YARD AND POOL ACCESS

  • 10 PARKING SPACES

  • QUIET, CUL-DE-SAC STREET OVERLOOKING DTLA

  • 100% COPPER PLUMBING

  • GATED POOL

  • 1ST TIME ON THE MARKET IN 30+ YEARS

  • 86 WALK SCORE - "VERY WALKABLE"

  • BLOCKS FROM INTERSECTION OF SUNSET & ALVARADO

  • EASY ACCESS TO DTLA, HOLLYWOOD, AND SILVER LAKE

  • OVER 100% RENTAL UPSIDE!

Please Send Me More Infomation On This Listing
Call Me Today!

Tel: 310.562.9630 

Email: DMendez@kw.com

DRE #: 01746702

IncomePropertiesLA.com

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