1400 Colton St

05-25-2022
05-25-2022

1400 Colton St, Los Angeles, CA 90026

  • Potential for ADU!
  • Great Value Add Opportunity!
  • Close to DTLA and Echo Park!
  • One Stand Alone - Bungalow Unit

Property Description

The property consists of two buildings totaling 3,062 SF on a 4,773 SF lot zoned LACW. One building is 646 SF with a 1 bedroom and 1 bathroom unit. The second building is 2,416 SF with three 1 bedroom and 1 bathroom units and two studio units. The units are individually metered for gas and electricity. Tenants pay for their own trash with rolling bins. There are 3 parking garages with alley access being used as storage with additional income of $345 a month (month to month leases non residents). A non conforming studio brings in an additional $990 per month including utilities. The property is conveniently located in Historic Filipinotown and Echo Park Adjacent. Within walking distance to the Echo Park Indoor Pool, new foodie cafe and restaurants on Glendale Blvd, Echo Park and Vista Hermosa Park. Situated just three miles northwest of Downtown LA, residents appreciate the small town feel and proximity to Downtown LA. A savvy investor with a value-add strategy will be able to take advantage of the neighborhoods steady rise in rental prices. Huge value-add opportunity as many of the rents are below market. DRIVE BY ONLY! DO NOT DISTURB TENANTS!

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 1,550,000
No. of Units
6
Cap Rate
3.37%
Year Built
1917
Building Size
3,062 Sq ft
Lot Size
4773 sq ft
Opportunity Zone
No
Price per unit
$ 258,333
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34.063862, -118.259012

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