Great Deal Alert $1,050,000 - Residential Income
2 Small Retail Units & Good-Sized 1-Bedroom House
For the right person or persons, this could be a fantastic deal. First of all, this is a really cool location right on Echo Park Ave.—walking distance to all shops and restaurants on Sunset as well as on Echo Park Ave., and also very close to Elysian Park. You could probably rent each commercial unit for $2K/mo ($4K total) and live in the house, or perhaps you yourself have need of the commercial units for your own business or another purpose. The house is rather unique with high ceilings and other features, and has some (small) amount of outdoor space between a little yard and a good-sized rooftop deck. If you ended up renting the house I am ‘guesstimating’ you get $2700/mo. There is also two-car tandem parking. The property does not appear to need much work. It is on the market for $1.2 million (it is not my listing), but having had a good conversation with the listing agent/owner, I am pretty certain it can be had for $1,050,000 and possibly even as little as $1 million.
Let me know if you have interest or know someone who does.