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2677 Moss Avenue

Los Angeles CA 90065

7478 sq. ft.
Multi-Family
Currently for sale - view listing

Overview

7 unit value-add apartment located in Glassell Park, one of the hottest neighborhoods of Los Angeles bordered by Glendale, Silver Lake, Eagle Rock, Highland Park, Cypress Park, Mt. Washington and Atwater Village. Its centralized LA County location provides extended proximity to Hollywood, Koreatown, Downtown LA, Monterey Park, Alhambra and Pasadena. It is a hilly neighborhood with modest homes and fashionable neighbors, serviced by many locally owned eateries, coffee shops and shopping boutiques. Residents are further benefited by public transportation and quick access to the 2 and 5 Freeways. This continually flourishing sub-market coupled with a property generating income well-below market, presents an investor with a considerable opportunity worth seizing. In recent years the owners have spent significant funds in improving the property. In addition, seismic gas shut-off valves and completing soft-story seismic retrofit (permitted 03/2020) was also completed. There are 7 parking spaces equally assigned to each unit. There is a dedicated on-site laundry room, which currently has no machines. Charging for parking and providing laundry machines are opportunities to immediately enhance yield. Additionally, market rents are projected at $2,100 for all the 2BR units after full renovation, which equates to 120% in rental upside. The property is subject to The City of LA Rent Stabilization Ordinance (RSO).

Features

7478 sq. ft. lot size
Multi-Family

Property history for 2677 Moss Avenue

2023
Sold
$1,250,000
11 Aug 2023 by Matthew Lee, of Lilly Enterprises, Inc.

Happy sellers in Los Angeles

95%
95% of sellers in Los Angeles reported that their sale price either exceeded or met their price expectations.

Los Angeles stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Los Angeles over the last 12 months.

Local market activity for multi families in Los Angeles

In the last 12 months, 9 multi families similar to 2677 Moss Avenue, have been sold.

This represents a 350% decrease in multi families sales when compared to the previous 12 months.

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