1445 Calumet Avenue, Los Angeles, Los Angeles, CA, ResidentialIncome, 7, 7

Property Description

Private, charming, turnkey investment. Nestled behind a tall privacy hedge in the Angelino Heights HPOZ, sits 7 individual, well-maintained Craftsman bungalows, each with their own private deck and outdoor space. These units were fully renovated and converted into open concept studios with vaulted ceilings, exposed beams and wood floors and windows. Because of its location in prime Echo Park, it’s proximity to high-end amenities (newly renovated Echo Park lake, Lassen’s, and multiple bars and restaurants), these units are rarely vacant. Well maintained but there’s room for improvement with in-unit washer dryers and central HVAC. Newer roof, sewer, kitchens, and decks. Shown by appointment. Scheduled rent (as of 2/1/24) for all 7 units: $14,289/mo. GOI (2/1/24) $171,471.60/yr. Projected rent with improvements: $206,400/yr. Cap rate is based on property taxes at $2.4M. 6 of the bungalows are identical. The 7th bungalow at the end of the property is larger with an additional yard space.