NOT LISTED FOR SALE

1917 Montrose St Los Angeles, CA 90026

Echo Park Neighborhood
16 Beds
16 Baths
9,786 Sq Ft
0.33 Acres

Last Sold March 18, 2020

Last sale price $3,416,000 $349 Per Sq Ft

14 Days on Market

Highlights

  • 14,258 Sq Ft lot
  • Wood Flooring
  • Living Room
  • Midcentury Modern Architecture
  • Bathtub with Shower
  • Laundry Room

About This Home

As of March 2020

Welcome to 1917 Montrose -- an investor's dream property in the heart of hip, vibrant Echo Park! This 16 unit mid-century apartment complex is an incredible value add opportunity. All units are approximately 600 square foot, one-bedroom/one bathroom floor plans. Centrally located, this property sits around the corner from renowned Sunset Boulevard and historic Alvarado Street, just feet from Echo Park's hot entertainment spots. It's a stone's throw from Echo Park Lake and within easy reach of Silver Lake, Los Feliz, Elysian Park and Dodger Stadium. This property is ripe with value-added income potential and includes resident parking. Priced to sell at $175,000/unit, the property has a market cap rate of 12.8 - unheard of in Los Angeles! Separately metered for gas and electric, there is also a common area in the back of the property. With every conceivable amenity within walking distance, this property will be a crown jewel in any investor portfolio.

Last Agent to Sell the Property

Will Tiao

The Collective Realty License #01918965 Listed on: 02/03/2020

Last Buyer's Agent

Will Tiao

The Collective Realty License #01918965 Listed on: 02/03/2020

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.33 Acre Lot
  • East Facing Home

Parking

  • 16 Open Parking Spaces
  • 1 Car Garage
  • Unassigned Parking

Home Design

  • Midcentury Modern Architecture
  • Stucco

Interior Spaces

  • 9,786 Sq Ft Home
  • 2-Story Property
  • Living Room
  • Wood Flooring

Kitchen

  • Gas Oven
  • Range

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 16 Bathrooms
  • Bathtub with Shower

Laundry

  • Laundry Room
  • Dryer
  • Washer

Location

  • City Lot

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Community Details

  • 16 Units
  • Laundry Facilities
  • Rent Control

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for gardener, water
  • Assessor Parcel Number 5404-003-001

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Style: Mid-Century
  • Levels: Two
  • Street Number Display: Yes
  • ADA Compliant: No
  • Advertising Remarks: Contact listing agent Will Tiao at (323) 363-1096 for more details. Tiao Properties & the Collective Realty are proud to present an investor's dream property in the heart of hip, vibrant Echo Park! This 16 unit mid-century apartment complex is an incredible value add opportunity. All units are approximately 600 square foot, one-bedroom/one bathroom floor plans. Centrally located, this property sits around the corner from renowned Sunset Boulevard and historic Alvarado Street, just feet from Echo Park's hot entertainment spots. It's a stone's throw from Echo Park Lake and within easy reach of Silver Lake, Los Feliz, Elysian Park and Dodger Stadium. This property is ripe with value-added income potential and includes resident parking. Priced to sell at $175,000/unit, the property has a market cap rate of 12.5 - unheard of in Los Angeles! Separately metered for gas and electric, there is also a common area in the back of the property. With every conceivable amenity within walking distance, this property will be a crown jewel in any investor portfolio.
  • Alley: No
  • Entry Location: Ground Level w/steps
  • Living Area: 9786
  • Price Per Unit: 175000.00
  • Probate: No
  • Stories: 2
  • Year Built: 1962
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Number Carpet: 0
  • Number Dishwasher: 0
  • Flooring: Hardwood
  • Appliances: Oven-Gas, Range
  • Bedrooms: 16
  • Common Walls: Attached
  • Bathroom Features: Shower Over Tub
  • Laundry: Community, Laundry Area
  • Total Bathrooms: 16.00
  • Equipment: Dryer, Range/Oven, Washer
  • Price Per S Q F T: 286.12

Exterior Features

  • Direction Faces: East
  • Construction: Stucco
  • Other Structures: None
  • Tennis Court Y/N: No
  • Construction: Frame and Stucco
  • Number Patio: 0
  • Paved: Yes
  • Pool: No

Garage/Parking

  • Garage Spaces: 1
  • Other Spaces: 16
  • Garage Structures: 1
  • Parking Garage: Parking Space, Unassigned
  • Total Parking: 16

Utilities

  • Cooling: Wall/Window
  • Heating: Wall Gas
  • Number Electric Meters: 16
  • Number Gas Meters: 16
  • Number Water Meters: 1
  • Water Expense: 14359.00

Fee Information

  • Gas Expense: 2662.00
  • Insurance Expense: 4459.00
  • Maintenance Expense: 5466.00
  • Other Expense: 836.00
  • Trash Expense: 5205.00

Lot Info

  • Additions Alterations: No
  • Assessed Improvement Value: 918000
  • Assessed Land Value: 2101200
  • Assessor Parcel Number: 5404-003-001
  • Geocode Override: No
  • Lot Location: City
  • Lot Size Area: 14258

Rental Info

  • Number Leased: 16
  • Total Actual Rent: 146232.00
  • Monthly Gross Income: 12186.00
  • Owner Pays: Gardener, Water
  • Rent Control: Yes
  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116, 2117, 2118
  • Gross Rent Multiplier: 18.64
  • Number Of Units: 16
  • Rent Control: 100
  • Type Of Units: Residential

Tax Info

  • Tax Expense: 38423.00
  • Mello Roos: Unknown

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 List to Sale Price per Sq Ft
03/18/2020 03/18/20 Sold $3,416,000 +22.0% $349 / Sq Ft
02/17/2020 02/17/20 Pending -- -- --
02/03/2020 02/03/20 For Sale $2,800,000 -- $286 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Will Tiao

    Seller's Agent in 2020

    Will Tiao

    The Collective Realty

    (323) 438-9494

    2 in this area

    31 Total Sales

    Will Tiao
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Map

Source: The MLS

MLS Number: 20-548242

The MLS
California Los Angeles County Los Angeles 90026 Echo Park

1917 Montrose St, Los Angeles, CA

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