Sold $649,000 - 4-Plex
It is in an excellent Echo Park location, a short walk to Elysian Park. It consists of 3 separate structures, one of which is a 1 bedroom that will be delivered vacant. Another is a 2 bedroom that is currently getting $830/mo. A third structure is a 3 bed/ 2 bath getting $1088 and a 1 bedroom getting $610. There is parking on the premises for all 4 units. The vacant 1 bedroom, occupied, would probably fetch about $1200/mo.
It is a sign of the times that so little quality inventory becomes available these days in Echo Park. It seems like anyone who has Real Estate around here wants to hold onto it ! So, imagine my delight in being able to present to you a 4-plex in Echo Park that actually works (especially for an ‘owner-user’) that is not yet on the market.
Here’s the details:
It is in an excellent Echo Park location, a short walk to Elysian Park. It consists of 3 separate structures, one of which is a 1 bedroom that will be delivered vacant. Another is a 2 bedroom that is currently getting $830/mo. A third structure is a 3 bed/ 2 bath getting $1088 and a 1 bedroom getting $610. There is parking on the premises for all 4 units. The vacant 1 bedroom, occupied, would probably fetch about $1200/mo.
There are several different ways to go on this, and I would be happy to discuss all possibilities and potentials with you. One scenario, which would work handsomely is if you want to live in the 3 bed 2 bath and pay to relocate that tenant and rent out the 1 vacant 1 bedroom. You would be living there almost mortgage free. There are other approaches as well.
It will be on the market soon, so if you want to take a look and be spared a bidding war, contact me and I will be happy to help you out.
