Property Detail

Description

We are pleased to present a five (5) unit apartment building located at 434 N Lake Street in Los Angeles, California. The subject property is located in a solid Echo Park location, north of Temple Street and west of Alvarado Street. The property is located in Echo Park, offering an excellent unit mix of three (3) one-bedroom and two (2) two-bedroom units all separately metered for electricity on a spacious 11,683 SF lot. With over 50% rental upside potential, the property is a prime value add opportunity, especially with SB1211 allowing for potential ADU conversions in the garage or rear parking lot. Tenants enjoy a gated and secure environment, lush landscaped front yard, and full onsite parking with eight (8) dedicated spaces. Recent improvements include a new roof and completed soft story retrofit. Situated on a quiet street just off Temple, the property boasts walkable access to local hotspots like Tribal Cafe, Boba Guys, and Echo Park Lake, as well as dominant connectivity to Sunset Blvd, Beverly Blvd, and the 101/110 freeways. This is a strong opportunity to purchase a legacy asset that has not been on the market in over 35 years with huge value-add potential. With strong rental upside and potential for ADU conversion underSB1211, this property offers a rare investment opportunity in a solid Echo Park location poised for continued growth.