1242 Lilac Place
1242 Lilac Place
$1,050,000
2
7
4,604
4,604
$228
Description
We are pleased to offer for sale a seven-unit apartment building located at 1242 Lilac Place in Los Angeles, CA. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket. Over the past decade, Echo Park has become one of the most desirable neighborhoods for renters in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents...We are pleased to offer for sale a seven-unit apartment building located at 1242 Lilac Place in Los Angeles, CA. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket. Over the past decade, Echo Park has become one of the most desirable neighborhoods for renters in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents on the Eastside of L. A. Situated on a 5,548 square foot parcel, the property comprises of five studios and two one-bedroom units. New ownership can potentially add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential. The property's desirable location, north of Sunset Boulevard coupled with the significant value-add potential and attractive basis makes 1242 Lilac an excellent acquisition opportunity for investors.
- Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01240999 • Marcus & Millichap
Property Details for 1242 Lilac Place
Zoning
LAR4
Parcel Number5406012029
Total Units7.0
Living Area4604
Source Living AreaAssessor
AreaSilver Lake (671)
Vacancy Rate1
Lot Size Area5548
Location
LISTING UPDATED: 05/15/2024 12:01 AM
Property Details for 1242 Lilac Place
Status | Active |
---|---|
MLS # | 24-388985 |
Days on Market | 13 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1921 |
Lot Size | 0.13 AC / 5,548 SF |
County | Los Angeles County |
Location
Building Information for 1242 Lilac Place
Stories2Residences-Year Built1921Building Size-Lot Size0.13 AC / 5,548 SF
Payment Calculator
$7,190 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1242 Lilac Place
Property History for 1242 Lilac Place
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1242 Lilac Place
Taxable ValueLand$1,071,000Additions$306,000Total$1,377,000
Tax Record2023$17,514 ($1,460 / month)
Home Facts
Total Finished SqFt4,604 SqFtAbove Grade Finished SqFt4,604 SqFtLot Size5,546 SqFtStyleMulti-Family Res (5+ Units)Year Built1921ZoningLAR4CountyLOS ANGELESAPN5406-012-029
Schools near 1242 Lilac Place
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Logan Academy of Global Ecology PublicK to 8 | ||
Belmont Senior High School Public9 to 12 | ||
Miguel Contreras Learning Complex School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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