Description

Pleased to present 1215 Neola Street, a well-maintained multifamily investment opportunity located in the highly desirable Eagle Rock neighborhood of Los Angeles. Situated on a 7,000 SF R1-1 zoned lot, the property consists of approximately 3,618 SF of improvements and is currently configured as four income-producing units featuring an attractive unit mix of two spacious 3BR/2BA units and two 1BR/1BA units. Originally constructed in 1912 with a 1923 addition, portions of the property have been updated and remodeled in recent years.The property currently generates strong in-place income with stable tenancy and presents an opportunity for continued rental growth in one of Northeast Los Angeles' most sought-after rental markets. The front residence offers flexible living arrangements with separate entrances and functional layouts that appeal to a wide tenant pool. Buyer to independently verify all unit configurations, square footage, permits, zoning, and use with the City of Los Angeles.Additional features include gated access, on-site parking, updated dual-pane windows, landscaped outdoor areas, and a combination of stucco construction with contemporary California design elements. The property also includes additional lower-level/storage areas and excess land area that may provide future potential, subject to buyer investigation and City approval.Ideally located near the Colorado Boulevard corridor, Occidental College, Glendale, Pasadena, Downtown Los Angeles, and major freeway access including the 134 and 2 Freeways, the property benefits from strong rental demand and long-term neighborhood growth trends. This is an excellent opportunity for investors seeking a stabilized asset with upside potential in a premier Northeast LA location.