NOT LISTED FOR SALE
11 Beds
10 Baths
5,624 Sq Ft
4,387 Sq Ft Lot

Last Sold October 08, 2021

Last sale price $2,405,000 $428 Per Sq Ft

8 Days on Market

Highlights

  • City View
  • Subterranean Parking
  • Card or Code Access
  • Wood Flooring
  • Intercom
  • Central Heating and Cooling System

About This Home

As of October 2021

We are pleased to present a five (5) unit apartment building located at 1260 Vin Scully Avenue in Los Angeles, California. The subject property is situated in a prime Echo Park location, west of Stadium Way and east of Sunset Boulevard. Echo Park is a diverse and eclectic area, attracting strong development and new residents every year. Echo Park is a rapidly changing rental market that is adjacent to East Hollywood and Downtown Los Angeles. Echo Park has been subject to an invigorate stream of new housing development, community re-positing, and an increased demand of living in the area. Anchored by an eponymous lake dotted with swan boats and lotus flowers, and wrapped around Los Angeles's second-largest park, the Echo Park neighborhood is also a nature-lovers refuge in the heart of the city. Sunset Boulevard is the main thoroughfare and commercial artery that runs through the neighborhood, where along the boulevard and side streets you'll find local favorites such as the Andante Coffee Shops, Mohawk Bend, and countless nightlife entertainment including the Short Stop and Sunset Lounge. Locals and visitors alike enjoy paddle-boating around the lake and watching the world-famous Los Angeles Dodgers play at Dodger Stadium. Over the last decade, Echo Park has been transforming into a proud revitalizing landmark within the City of Los Angeles. Built in 1987, this turn-key property is well renovated, stylish, and located within walking distance to Dodger Stadium. The property is securely gated, features spacious yard space, has eight (8) subterranean parking spaces, and contains a great unit mix of four (4) two bedroom / two bathroom units and one (1) three bedroom / two bathroom unit. Due to its vintage, the property is not subject to Los Angeles rent control, however, it is subject to AB1482. The units feature a full array of amenities including stainless steel appliances, in-unit washers and dryers, dishwashers, central heating and air conditioning, quartz countertops, walk-in closets, dishwashers, refrigerators, and hardwood floors. Tenants will enjoy being in the heart of Echo Park with a walk score of 97. With a short walk residents can find trendy restaurants, cafes, and even a gaming store. They can also find outdoor recreation within walking distance at Elysian Park. Situated in a prime Echo Park location, this offering presents an excellent opportunity to acquire a turn-key property with high end upgrades that isn't subject to LA rent control.

Last Agent to Sell the Property

Jason Tuvia

Marcus & Millichap License #01772495 Listed on: 08/31/2021

Last Buyer's Agent

Kimiyasu Murayoshi

Andrew C. Lee License #01329437

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987 | Remodeled

Lot Details

  • 4,387 Sq Ft Lot
  • North Facing Home
  • Gated Home

Interior Spaces

  • 5,624 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • City Views
  • Intercom

Kitchen

  • Oven
  • Gas Cooktop
  • Range Hood
  • Warming Drawer
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 11 Bedrooms
  • Remodeled Bathroom
  • 10 Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Parking

  • 8 Parking Spaces
  • Subterranean Parking

Utilities

  • Central Heating and Cooling System

Community Details

  • 5 Units
  • Vacancy Allowance $5,153
  • Card or Code Access

Listing and Financial Details

  • Assessor Parcel Number 5406-014-038

Property Details

Home Type

Multi-Family

Year Built

Built in 1987 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 5624
  • Lot Acreage: 0.1007
  • Price Per Unit: 490000.00
  • Probate: No
  • Property Condition: Updated/Remodeled
  • Stories: 2
  • Year Built: 1987
  • Number Of Photos: 19
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Hardwood
  • Appliances: Microwave, Oven, Cooktop - Gas, Warmer Oven Drawer, Range Hood
  • Bedrooms: 11
  • Common Walls: Attached
  • Bathroom Features: Remodeled
  • Kitchen Features: Remodeled, Counter Top
  • Laundry: In Unit
  • Laundry Equipment: Own
  • Total Bathrooms: 10.00
  • Equipment: Intercom, Dishwasher, Range/Oven, Stackable W/D Hookup, Washer, Dryer, Microwave, Refrigerator
  • Price Per S Q F T: 435.63

Exterior Features

  • Direction Faces: North
  • Other Structures: None
  • Tennis Court Y/N: No
  • Pool: No
  • Spa Yn: No
  • View: City
  • View: Yes

Garage/Parking

  • Covered Parking: 8
  • Parking Garage: Subterranean
  • Total Parking: 8

Utilities

  • Cooling: Air Conditioning, Central
  • Heating: Central
  • Security: Gated, Card/Code Access
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 51.79
  • Assessed Improvement Value: 566050
  • Assessed Land Percent: 48.21
  • Assessed Land Value: 526818
  • Total Assessed Value: 1092868
  • Assessor Parcel Number: 5406-014-038
  • Lot Description: Fenced, Single Lot, Sidewalks, Yard
  • Lot Size Area: 4387

Rental Info

  • Land Lease Type: Fee
  • Rent Control: No

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 14.26
  • Number Of Units: 5
  • Total Annual Expense: 50983
  • Type Of Units: Market Rate
  • Vacancy Allow: 5153
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 20%

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/08/2021 10/08/21 Sold $2,405,000 -1.8% $428 / Sq Ft
09/08/2021 09/08/21 Pending -- -- --
08/31/2021 08/31/21 For Sale $2,450,000 -- $436 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 21-778596

The MLS