1214 S Lake St

Los Angeles CA 90006

20460 sq. ft.

8702 sq. ft.

Other

Currently for sale - view listing

Overview

1214 S LakeSt is a 39-unit multifamily investment opportunity on the edge of the Westlake, Pico-Union, and Koreatown neighborhoods of Los Angeles located just west of S Hoover St between W 12th St & W Pico Blvd.The property features a unit mix of one bachelor, 25singles, 11 one-bedrooms, one one-bedroom plus den, and one two-bedroom; one of the singles and the two-bedroom are recently constructed ADU's pending certificates of occupancy; many units have exposed brick. Ownership has fully renovated 16 units (includingADU's) with vinyl plank floors, stainless steelappliances, tile bathrooms, new cabinetry, quartzcountertops, and new light fixtures.At the asking price, the property is being offered at a5.13% CAP rate and 9.92 GRM on current income withan additional 39% rental upside achievable as unitsturn through continued interior renovations. The property has a secured, gated entrance withintercom access; there are also solar panels on the roof. The building is separately metered for electricity andhas an on-site laundry room with two washers and twodryers (lease with Wash). High Walk Score of 93, the property is one mile fromthe Metro A-E Rail Lines, and close to theMetro Local Lines along S Hoover St & S Alvarado St.This central location is a short commute to DowntownLos Angeles, Hollywood, and Mid-City with proximity toMacArthur Park, Echo Park, Doger Stadium, and TheBroad Museum.

Features

35 bathrooms

20460 sq. ft. floor area

8702 sq. ft. lot size

Other

Property history for 1214 S Lake St

2021

Sold

$5,395,000

16 Jul 2021 by Neema Ahadian, of Marcus & Millichap

2006

Sold

$809,478

25 Jul 2006

Happy sellers in Los Angeles

We have insufficient information to provide an overview of customer satisfaction for Los Angeles. Viewing the agent profiles, reviews and sales for Los Angeles can provide insights for this location.