Restored Echo Park Compound - SOLD

$1,625,000

1306 & 1308 Waterloo St

# of Units: 2

GRM: 14.25

CAP Rate: 5.46%

Price/SF: $733

Building SF: 2,218

Lot SF: 7,501

Zoning: LARD3

Year Built: 1921

Description

 

WHAT A VALUE! 2 homes for the price of many single-family homes in the area! Welcome to 1306-1308 Waterloo St, 2 spacious detached homes in the heart of Echo Park just above Sunset Blvd and Alvarado St. This multifamily investment opportunity presents you with a unique opportunity to either live at the property or use both homes as investments. With the potential to live in a fantastic location in Prime Echo Park, the owner could rent out the 2nd home to help offset the mortgage payment or rent both homes for substantial rental income. The front house is 4BR+2BA totaling 1,306 SF and the rear home is 3BR+1BA totaling 912 SF. The 2 homes have been impecabbly remodeled, are detached (no shared walls), and have many original wood details and built-ins that add to the charm and style. With open spacious floorplans, beautiful wood and tile flooring, many windows for natural light, expansive views of DTLA, and clean finishes, this is a great turnkey opportunity you won’t want to pass up. Both units have washers and dryers with their own laundry rooms. There is also a separate detached garage that could be used as a music studio or office, and additional gated parking accessible through the back alley.

 

Location

 

Echo Park continues to thrive and evolve, with even more new and exciting retail on the horizon to compliment the Echo Park mainstays and hip vibe. These 2 tremendously charming homes are in a prime location with many great eats and entertainment to satisfy. 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

  • Front House is 1,306 SF - 4BR+1.75BA

  • Rear House is 912 SF - 3BR+1BA

  • Detached Garage & Gated Parking via Alley Access

  • Fantastic Location in Echo Park Right Above Sunset Blvd

  • 89 Wakscore! *Very Walkable*

  • To Be Delivered 100% Vacant - Move-In Ready!

  • Tremendously Charming Style and Beautiful Full Renovation

  • Great Views of Downtown Los Angeles

  • Large Private Backyard & Patio Area Perfect for Entertaining

  • Appx. $9,500/mo in Total Potential Rent

  • Washer/Dryer Combination in Both Homes

  • 5.46 CAP Rate with a 14.25 GRM

  • Located just north of Sunset Blvd and less than a mile to the 101 Freeway.

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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