1421 Ridge Way, Los Angeles, CA 90026

$1,103,000
4,317
SqFt
List Price
$1,103,000
Price Change
▼ $247,000 1606792313
Status
PENDING
MLS#
SR20158670
Year Built
1911
Living Sq. Ft
4,317
Lot Size
6,393
Acres
0.1468
Lot Location
Landscaped, Up Slope from Street
Days on Market
110
Property Type
Multifamily

Property Description

Probate, Subject to Court Confirmation. Accepted offer is $1,050,000. Minimum overbid will be $1,103,000 on Thursday 1/7/21 at 8:30 a.m. in Dept 79 in Los Angeles Superior Court at 111 N. Hill Street. Character rich 5 unit, early 1900's multi-residential property in the heart of historic Angelino Heights HPOZ Zone. Ideal for investor or owner-user who wants to manage themselves to save current management fees. Below market rents gives buyer tremendous upside potential for income growth. With Echo Park on one side and Downtown Los Angeles on the other, this property shows both charm and character. Residents enjoy myriad dining, nightlife and recreation offerings, including Dodger Stadium, Elysian Park hiking trails and Echo Park Lake. Close to the business hubs of Downtown and Hollywood. Set back on a knoll overlooking the street, this property has been recently upgraded. The main 2-story building has a new roof and has been recently painted. It has 4 units, all 1 bedroom, 1 bath with direct access to exterior. This building includes a beautifully renovated owner’s unit. If that weren’t enough, this great property also features a stand-alone , quaint 1 bedroom, 1 bath cottage ideal for owner/user or premium tenant. Echo Park has been called the trendiest neighborhood in Los Angeles, and Angelino Heights is an architectural jewel within this area. This is a rare opportunity to own a fabulous income property in one of the hottest markets in Los Angeles.

Additional Information

Tract Number
197500
Lot Description
Urban
Pool Description
None
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Sewer
Unknown
Water
Public
Attached Structure
Attached
Number Of Units Total
5
Gross Scheduled Income
$78,178
Unit One Total Units
1
Unit One Beds
1
Unit One Baths
1
Unit One Actual Rent
1300.00
Unit One Total Rent
1300.00
Unit One Pro Forma
2350
Unit One Furnished
Unfurnished
Unit Two Total Units
1
Unit Two Beds
1
Unit Two Baths
1
Unit Two Actual Rent
1591.00
Unit Two Total Rent
1591.00
Unit Two Pro Forma
2200
Unit Two Furnished
Unfurnished
Unit Three Total Units
1
Unit Three Beds
1
Unit Three Baths
1
Unit Three Actual Rent
791.50
Unit Three Total Rent
791.50
Unit Three Pro Forma
2200
Unit Three Furnished
Unfurnished
Unit Four Total Units
1
Unit Four Beds
1
Unit Four Baths
1
Unit Four Actual Rent
2345.00
Unit Four Total Rent
2345.00
Unit Four Pro Forma
2345
Unit Four Furnished
Unfurnished

Mortgage Calculator

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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Anngel Benoun from Dilbeck Real Estate

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.