$2,715,000
$2,875,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
7 Beds
5 Baths
4,058 SqFt
SOLD DATE : 08/27/2024
Key Details
Sold Price $2,715,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,058 sqft
Price per Sqft $669
MLS Listing ID 24-384553
Sold Date 08/27/24
Bedrooms 7
Year Built 1922
Lot Size 7,102 Sqft
Acres 0.163
Property Description
Las Casitas is a 5-unit apartment building at 743 N. Occidental Blvd. in the desirable Silverlake neighborhood of Los Angeles. Extensively renovated in2023, the property offers renters a high-demand mix of two 1-bedroom/1bath, one2-bedroom/1-bath, andtwo3-bedroom/2-bath units across 3,560 square feet of improvements on7,100 square feet (0.16acres) of land. Las Casitas is a 1920s Spanish house with four separate bungalows that give tenants the feel of a home. Originally built in 1927, the units were taken down to the studs in 2023 and rebuilt with new hardwood floors, kitchen cabinets, countertops, stainless steel appliances, designer tiles, fixtures, and lighting. The bathrooms have been updated with modern vanities, tiles, bathtubs, and hardware. The units have new windows, split system conditioning units, and in-unit washers and dryers. In addition, the building has copper plumbing, new electrical system & wiring, exterior paint and landscaping. The charming Spanish architecture, resort-style feel, and location are major draws for Las Casitas. Additional drivers leading to the high rents being achieved include the elevated renovation level and designer touches. Tenants have proven they are willing to pay more for a premiumproduct which far exceeds the level of detail found at competing properties. Utilities are separately metered for electricity and gas, and each unit has an individual water heater. Las Casitas is the perfect opportunity for investor looking for a high yield, excellent location, and a turn-key asset.
Location
State CA
County Los Angeles
Area Silver Lake - Echo Park
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Air Conditioning
Equipment None
Exterior
Garage Garage Is Attached
Garage Spaces 5.0
Building
Story 2
Level or Stories Multi/Split
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
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