Description

Situated less than 250 feet from Echo Park Lake, the property offers tenants convenient access to the park, Silver Lake, Sunset Junction, and all of the trendy boutiques, bars, and eateries that have gained recognition in recent years along this stretch of Sunset Boulevard. The Walk Score of 97 is a testament to how accessible these nearby amenities are, as the property earned the highest-tier classification of "Walker's Paradise." With current rents averaging only $1.97 per square foot, an investor could potentially double the property's revenue by bringing rents up to the $4.00+ per square foot level already achieved at several nearby apartments. One-quarter of the unit interiors have already been thoroughly upgrading, providing a helpful blueprint for a new owner to follow as they recapture this rent upside. Renovated units feature new wood flooring, quartz countertops, new custom cabinets, stainless steel appliances, tile backsplashes, new lighting, and remodeled bathrooms. A brand new roof, including new sheathing, was just installed in 2026. The property is also not on the Los Angeles Department of Building and Safety's seismic retrofit list, saving a new owner from an otherwise costly maintenance expense. Dodger Stadium, home of the back-to-back World Series champions, sits just less than one mile east of the property, while Downtown Los Angeles is less than two miles away as well. With LA Live and the neighboring Crypto.com Arena, Los Angeles Convention Center, and nearby Los Angeles Coliseum scheduled to host events in the 2028 Summer Olympics, the entire local area stands to benefit from upcoming infrastructure improvements and an influx of capital to the area.