4 Units | The Douglas

Highlights:

• Highly Desirable Location in one of L.A.’s “Hottest” neighborhoods
• Non Rent Control – Can raise rents with a 30 day notice
• In-Place Proven Concept Capturing Exceptional Current and Future Income Potential
• Current Owner Employed over $400,000 in Renovations/Developments, and Upgrades.
• Completely Renovated in 2008 with ALL Commercial Permits
• Below Market Rents

Description:

The Douglas is a charming and very rare Non-Rent Controlled 4 unit apartment community in L.A’s most compelling rental market, Echo Park (90026). The asset, built in 1907 and renovated with quality workmanship in 2008 is in the center of one of Southern California’s hottest locations. The property is in close proximity to DTLA and the newly re imagined Echo Park Lake as well as a math and science magnet school across the street. The asset’s vibrant atmosphere reflect the energy of the local community with a unit mix that will attract the areas discerning Gen-Y resident and is perfectly positioned for an owner/user or investor. The property features an excellent unit mix of Three (2) Bedrooms (1) Bathrooms. Along with a (1) Bedroom (1) bathroom unit. All Interiors have their own individual character and the exterior is aesthetically pleasing. All apartment homes feature upgraded commercial copper plumbing and pride of ownership
charm.

The current owner has created a proven concept that has captured exceptional rents with well qualified residents. This residential income asset offers a secure gated entry, drought resistant landscaping, parking for 8 vehicles, plus all systems including plumbing, electrical and roof are in great condition. The added bonus of solar paneling reduces utility expenses by 40% and offers environmentally conscientious rebates from the city of L.A.

The asset offers additional potential profit opportunities which could entail providing a washer/dryer in each unit as well as re-configuring the garage for additional space as an outdoor common area.

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