Eight (8) Units in Prime Echo Park

$2,295,000

700 Robinson Street

# of Units: 8

GRM (Pro Forma): 10.65

CAP Rate (Pro Forma): 6.79%

Price/SF: $350

Building SF: 6,549

Lot SF: 6,615

Zoning: LARD2

Year Built: 1956

Description​​​

Unique opportunity to acquire eight (8) units just one block to Silver Lake Blvd in Echo Park!

Built in 1956, this property boasts a great unit mix of four 1 bedrooms and four 2 bedrooms. The units are spacious and average 818 sf each. The building totals 6,549 sf and is the perfect opportunity for those looking for a "value-add" building.

700 N. Robinson is a prime eight (8) unit apartment building perched on a picturesque hilltop in Silver Lake near Sunset Junction. The property boasts expansive views of Downtown Los Angeles, spacious units, a corner lot, tuck-under parking, and so much more. The property has approximately 70% upside in rents, making this an ideal "value-add" acquisition to a savvy investor's portfolio. Good bones, excellent location, an ideal unit mix, and tremendous upside all make 700 N. Robinson a prized asset that has been family owned for over 30 years. 

Location

Located in prime area near Sunset Blvd, Silver Lake, and 101 freeway. This eight-unit apartment building sits on a mostly residential street that is located near many new developments in the Silver Lake area.  There has been a wave of new housing developments in the immediate area. The property is located close to many eateries including Cafe Stella, Forage, Silverlake Ramen, All Day Baby, and more. The Friday Echo Park Farmer's Market and Lassens are easily accessible via Sunset Blvd. Through its ease of access and close proximity to the 101 and 110 freeways, residents can easily commute to and from Silver Lake, DTLA, Arts District, Hollywood, and the rest of Los Angeles.

Property Highlights

  • Fantastic Silver Lake Location

  • Corner Lot with 2nd Floor Views 

  • Parking for All Units

  • Potential to Convert to TIC's 

  • Mostly Residential Area

  • 70% Rental Upside 

  • Value- Add Property

  • Near Sunset Junction 

Please Send Me More Infomation On This Listing

Thanks for submitting!