Great Deal Alert - Duplex
Attention Developer/Investor people, or anyone who knows such a person, or is associated with them: here is a property that can be had for $1.1 million and then one can build a four-plex on the property and end up with a great cash-flowing property or even a very profitable ‘flip,’ It is currently off market and is in a really good Echo Park location. It has views, is walking distance to shops and restaurants as well as Elysian Park, yet is on a nice residential street. If you are someone who can build 4 units in a fairly economical way, you should end up with units that will yield you $16,000/mo or more in income. It is zoned RD1.5 and is 7200 sq ft of land.
It is currently a duplex where one unit can be delivered vacant and the other should be relatively easy and inexpensive to re-locate. This is one of very few such opportunities that exist in Echo Park these days, so I suggest you jump on it!