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Courtesy: Neema Ahadian - Marcus & Millichap
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Based on information from CRISNet MLS as of 3/7/2021. 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.

1214 S Lake Street,  Los Angeles CA, 90006

(Active)
$5,395,000
|
20,460 sqft
|
MLS# 20669164

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Last Updated: 3/7/2021 6:02 PM
Description for 1214 S Lake Street Los Angeles, CA 90006
Built in 1914, this 37-unit property is located in the Westlake neighborhood just north of S Alvarado Street between 11th St and Pico Blvd, providing easy access to the 10 & 110 Freeways, Downtown Los Angeles and Koreatown. The subject property totals 20,460 SF featuring a unit mix that includes 25 singles, 11 one-bedrooms and one one-bedroom plus den. The majority of rents are currently under-market, providing a true value-add opportunity to capture the 50% rental upside through an interior renovation program when units turn.Furthermore, the basement features hookups allowing an investor to install community laundry for additional income. At the asking price, the property is being offered for a low $145,811 per unit and $264 per square foot.1214 S Lake St has been well-maintained by ownership with recent capital expenditures over the last four years including common area flooring and paint, new security camera system and intercom, exterior trim paint... etc
Price
$5,395,000
Los Angeles
20,460 (approx)
20669164
Active
Description
Built in 1914, this 37-unit property is located in the Westlake neighborhood just north of S Alvarado Street between 11th St and Pico Blvd, providing easy access to the 10 & 110 Freeways, Downtown Los Angeles and Koreatown. The subject property totals 20,460 SF featuring a unit mix that includes 25 singles, 11 one-bedrooms and one one-bedroom plus den. The majority of rents are currently under-market, providing a true value-add opportunity to capture the 50% rental upside through an interior renovation program when units turn.Furthermore, the basement features hookups allowing an investor to install community laundry for additional income. At the asking price, the property is being offered for a low $145,811 per unit and $264 per square foot.1214 S Lake St has been well-maintained by ownership with recent capital expenditures over the last four years including common area flooring and paint, new security camera system and intercom, exterior trim paint... etc
Listing Information
Property Type: Other, 3+ Story
0.19 Acres 20,460 (approx) $263.69
1914 3
Neighborhood
Room Information
Interior Features
Disposal
Wood
Window/Wall Unit
Other, Wall Furnace
Exterior / Lot Features
None
R4-1-HPOZ
Driving Directions
Between S Alvarado & S Hoover St
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90006 has a population of 3,920,026.

The median household income in Los Angeles, California 90006 is $33,994. The median household income for the surrounding county is $61,087 compared to the national median of $57,525. The median age of people living in Los Angeles 90006 is 37 years.

Data provided below are primarily sourced from Public Records data.

Nearby Recent Sales (Sourced from Public Records)
Street Address City Beds Baths Sold Price Sold Date
1 1136 S ARAPAHOE Street Los Angeles n/a 2/17/2021
2 1330 Arapahoe Street Los Angeles n/a 2/3/2021
3 1407 Alvarado Terrace #1 Los Angeles 1 1 n/a 11/28/2020
4 1710 Arapahoe Street Los Angeles n/a 1/6/2021
5 915 S Grand View Street Los Angeles n/a 12/21/2020
6 1817 Arapahoe Street Los Angeles n/a 1/28/2021
7 961 Arapahoe Street Los Angeles n/a 11/19/2020
8 957 Arapahoe Street Los Angeles n/a 11/19/2020
9 1200 S WESTMORELAND Avenue Los Angeles n/a 10/23/2020
10 1818 Arapahoe Street Los Angeles n/a 12/31/2020
Tax History (Sourced from Public Records)
year Property Taxes Change Tax Assessment Change
2019 $50,082   USD 0.28% $4,138,710   USD 2.00%
2018 $49,941   USD 2.26% $4,057,560   USD 2.00%
2017 $48,838   USD 66.71% $3,978,000   USD 73.72%
2016 $29,295   USD 1.41% $2,289,859   USD 1.52%
2015 $28,889   USD 16.18% $2,255,464   USD 2.00%
Courtesy: Neema Ahadian - Marcus & Millichap
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Based on information from CRISNet MLS as of 3/7/2021. 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.
This content last refreshed on 3/7/2021 6:02 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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