1242 Lilac Place

Los Angeles, CA 90026

$1,050,000
Price
2
Beds
7
Baths
4,604 Sq. Ft.
$228 / Sq. Ft.
4,604
Sq. Ft.
$228
per Sq. Ft.

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.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1242 Lilac Place

Zoning
LAR4
Parcel Number
5406012029
Total Units
7.0
Living Area
4604
Source Living Area
Assessor
Area
Silver Lake (671)
Vacancy Rate
1
Lot Size Area
5548

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343
Add your commute
LISTING UPDATED: 05/15/2024 12:01 AM

Property Details for 1242 Lilac Place

StatusActive
MLS #24-388985
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1921
Lot Size0.13 AC / 5,548 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343
Add your commute

Building Information for 1242 Lilac Place

Stories2Residences-Year Built1921Building Size-Lot Size0.13 AC / 5,548 SF

Payment Calculator

$7,190 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,730

Property Taxes

$1,460

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1242 Lilac Place

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $71,285
  • Net Operating Income: $31,500.00
  • Gross Income: $73,490
  • Cap Rate: 3.00%
  • Gross Rent Multiplier: $14.29
  • Total Annual Expense: 39785
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1274
  • Lot Size Square Feet: 5548
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 2
  • Parking Features: Garage
Interior Features
Interior Features
  • Levels: Multi/Split, Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 05-07-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $555.00
  • Unit Actual Rent: $555.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $784.00
  • Unit Actual Rent: $784.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $561.00
  • Unit Actual Rent: $561.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,132.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $670.00
  • Unit Actual Rent: $670.00
  • Unit Projected Rent: $2,132.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $767.00
  • Unit Actual Rent: $767.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $655.00
  • Unit Actual Rent: $655.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $306,000.00
  • Assessed Improvement Percent: 22.22
  • Assessed Land Value: $1,071,000.00
  • Assessed Land Percent: 77.78
  • Assessed Total Value: $1,377,000.00

Property History for 1242 Lilac Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

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1242 Lilac Place is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on May 7, 2024 by Marcus & Millichap, it's currently listed at $1,050,000. It has been on the market for a total of 13 days and was last sold on March 31, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Logan Academy of Global Ecology, Ramon C. Cortines School Of Visual And Performing Arts and Belmont Senior High School. 1242 Lilac Place is a 2-bed, 7-bath, 4,604 sqft multi-family home built in 1921.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.