Description

Excellent opportunity for investors/developers or an owner-user to own and live in a triplex within historic Filipino town! Directly adjacent to Echo Park/Silverlake this triplex has an original front house that has 5 bedrooms. Current owners resided for over 50 years and needs full remodel! Fixer! Needs TLC. Front house has a raised foundation that is in need of repairs. Bring your contractor! There are an additional two units built in 1966 which includes a large two bedroom upstairs unit with balcony, and another 1 bedroom unit on the ground floor. There is parking for approximately 5 cars. Property is on a large R3 6,884 sf lot. You may build 8 units by right or up to 15 with TOC tier 2. One can also explore ED-1 and possibly build even more units! The current rental rates for the 2 units are $964 and $794 due increases now. Own or live in the most rapidly growing markets adjacent to Downtown, Rampart Village, Echo Park, and Silver Lake. Area is centrally located to LAs notable Dodger Stadium, Elysium Park, Disney Concert Hall, 110 and 101 freeway, a developing Metro Regional Connector and more!