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977 Marview Ave

Los Angeles, CA 90012
  • $1,765,000
  • STATUS: Active
  • ON SITE: 39 Days
  • MLS #: 21-798316
$1,765,000
  • 4
    BEDS
  • 0.1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,574
    SQFT
  • $494
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Description

We are pleased to present 977 Marview Ave, a five-unit opportunity located in the highly sought-after cusp of the Chinatown and Echo Park submarkets of Northeast Los Angeles. The property sits on a 4,477 square foot lot with recently touched up units, consisting of four one-bedroom units and one studio unit. Being on the cusp of two hot submarkets, the subject property is positioned to take full advantage of the high-demand rental market of Echo Park and the low-inventory of Chinatown. Delivered with 2 vacant units with most renovations complete, the incoming buyer is poised to take immediate advantage of all the major economic momentum around the subject property with their own vision of enhancements without much capital. Given the continued growth of the Echo Park and Chinatown submarket, the urban atmosphere surrounding the subject property, and the additional value-add opportunity, 977 Marview Ave represents an offering for investors seeking an asset that is poised to provide long-term returns and steady appreciation.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-30T23:43:16.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/122690536
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977 Marview Ave Los Angeles, CA 90012

  • Price: $1,765,000
  • Status: Active
  • On Site: 39 Days
  • MLS #: 21-798316
4
Beds
0
Baths
0
½ Baths
0.1
Acres
3,574
SQFT
$494
$/SQFT
1923
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
We are pleased to present 977 Marview Ave, a five-unit opportunity located in the highly sought-after cusp of the Chinatown and Echo Park submarkets of Northeast Los Angeles. The property sits on a 4,477 square foot lot with recently touched up units, consisting of four one-bedroom units and one studio unit. Being on the cusp of two hot submarkets, the subject property is positioned to take full advantage of the high-demand rental market of Echo Park and the low-inventory of Chinatown. Delivered with 2 vacant units with most renovations complete, the incoming buyer is poised to take immediate advantage of all the major economic momentum around the subject property with their own vision of enhancements without much capital. Given the continued growth of the Echo Park and Chinatown submarket, the urban atmosphere surrounding the subject property, and the additional value-add opportunity, 977 Marview Ave represents an offering for investors seeking an asset that is poised to provide long-term returns and steady appreciation.
Exterior Features

Lot Size Area 4477 Other Structures None Parking Garage DrivewayAssignedAbove Street Level Total Parking 4

Interior Features

Baths Total 5.00 Common Walls Attached Cooling Other Equipment DryerWasherStackable W/D HookupOtherRange/OvenGas Or Electric Dryer Hookup Heating WallOther

Property Features

Assessed Total Value 643511 Gross Income 108648 Gross Operating Income 105691 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 72405.00 Number Of Buildings 1 Number Of Units 5 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 33286 Type Of Units Standard Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Sevak Keshishian DRE#01887505 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-30T23:43:16.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210