222 Roselake Avenue

Los Angeles, CA 90026

PRICE REDUCED

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-$1,000 (-0.06%)

$1,649,000

List Price

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1965

calendar_month Built

Property Description

**10.03 GRM / 6.18% CAP In place +/- & 7.97 GRM / 8.60% CAP @ Market +/- & Three (3) RTI Adu's** We are pleased to present the opportunity to acquire The Roselake in the submarket of Historic Filipinotown (LA Market) and in close proximity to Echo Park, Hollywood, Koreatown, and DTLA. This offering includes a 10-unit multifamily building built in 1965 with a footprint of approximately 4,716 SF, sitting on a 4,423 SF corner lot zoned LAR4. The Roselake offers an investor a significant value-add opportunity with approximately 25.88% (+/-) of potential upside in rents spread across a desirable unit mix. Delivered with 3 RTI ADUs, the property provides strong in-place income and upside potential. Additionally, it benefits from exceptional visibility and frontage, a low cost per unit, and the possibility of leveraging the high demand for both market-rate and Section 8 tenants. This well-located multifamily property offers a rare opportunity to secure a corner lot with parking and laundry, in a high-demand rental pocket surrounded by new development and continued gentrification. The Roselake is situated in Historic Filipinotown, a diverse and vibrant neighborhood. The property is located close to Echo Park, Hollywood, Koreatown, and Downtown Los Angeles, providing easy access to cultural and commercial hotspots. Historic Filipinotown offers a mix of history and growth, making it a highly attractive area for tenants. Additionally, the property is near Echo Park Lake, numerous cafes, restaurants, and other amenities, offering a rich living experience. This neighborhood continues to experience growth due to its centrality and ongoing gentrification.

Listing Information

List Price $1,649,000
Status Active
MLS SR24198547
Type Residential Income
Subtype Mixed Use
Year Built 1965
Lot Size 4,423
Structure Size N/A
DOM 15
Courtesy Of Keller Williams Realty Calabasas
Listing Agent Jared Levine DRE#01804008

Interior Features

Laundry Information
Location(s) In Carport
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

Listing information courtesy of: Jared Levine, Keller Williams Realty Calabasas . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 10th, 2024 at 12:25 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.