1244 Innes Avenue

Los Angeles, CA 90026

$4,500,000
Price
12
Beds
20
Baths
8,864 Sq. Ft.
$508 / Sq. Ft.
8,864
Sq. Ft.
$508
per Sq. Ft.

Description

Presenting an amazing opportunity to purchase a turn key coliving or short term rental property featuring twenty seven bedrooms in the highly desirable area of Echo Park. This new construction project consists of a brand new four unit apartment building with five bedrooms and three and a half baths each in addition to a completely remodeled unit in the rear that has its own seven bedrooms. A semi below grade garage level also offers ample storage and the option for additional income from parking....Presenting an amazing opportunity to purchase a turn key coliving or short term rental property featuring twenty seven bedrooms in the highly desirable area of Echo Park. This new construction project consists of a brand new four unit apartment building with five bedrooms and three and a half baths each in addition to a completely remodeled unit in the rear that has its own seven bedrooms. A semi below grade garage level also offers ample storage and the option for additional income from parking. Designed with efficiency and comfort in mind, each unit maximizes space and livability while also taking into account operator logistics such as cleaning closets, IT, and ample storage. Tenants will enjoy floor to ceiling windows, plenty of natural light, and modern curated finishes. Half of the units have access to a common area roof deck with sweeping views from DTLA to Hollywood, and amenities abound nearby. Dodgers Stadium is within walking distance, and coffee shops as well as the most popular restaurants are all within reach. Situated right in the midst of this thriving locale with an exceptionally strong rental market, do not miss this chance to purchase a turnkey building ready to generate income on day one.
  1. Listed by Alan Lu • DRE #01514595 • Brokerage DRE #01928528 • ALTC Realty • 626-378-8007

Property Details for 1244 Innes Avenue

Parking Spaces Total
10
Private Pool
No
Cooling Type
Central Forced Air
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8864
Assessor Parcel Number
5406-015-041

Location

Listing Courtesy of ALTC Realty, Alan Lu, DRE #01514595
Add your commute
LISTING UPDATED: 01/01/2024 01:58 AM

Property Details for 1244 Innes Avenue

StatusActive
MLS #AR23225195
Days on Market131
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
CountyLos Angeles County

Location

Listing Courtesy of ALTC Realty, Alan Lu, DRE #01514595
Add your commute

Building Information for 1244 Innes Avenue

Building/Complex1244 Innes AveFloor-Stories3Residences-Pet Policy-Year Built2024Building Size-

Payment Calculator

$25,776 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,558

Property Taxes

$1,218

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1244 Innes Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $426,600
  • Gross Scheduled Income: $426,600
  • Net Operating Income: $335,070
Expense Details
  • Operating Expense: $91,530
  • Fuel Expense: $0
  • Electric Expense: $5,800
  • Insurance Expense: $10,000
  • Professional Management Expense: $0
  • Trash Expense: $2,000
  • Water Sewer Expense: $3,000
  • Total Expenses: $91,530
Tax / Assessment Info
  • Tax Block: 31
  • Tax Tract Number: 0
  • Tax Census Tract: 1977.00
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 43
Community / Development
Community / Development
  • Accessibility Features: Disability Features, Parking
  • Disability Access: DisabilityAccess, Other Main Level Modifications
  • Assessments YN: No
  • Assessments: None
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Appliances: Gas Range
  • Equipment: Dryer, Dryer Included, Washer, Washer Included
  • Interior Features: High Ceilings, Open Floorplan
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring: Laminate
Exterior Features
  • Entry Location: 2
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Parking: Yes
  • Parking Garage: Garage
  • Parking Garage Spaces: 10
  • Carport Spaces: 0
  • Parking Features: Garage
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 5
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 8
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $19,350
  • Unit Type Total Rent: $19,350
  • Unit Type Pro Forma: 19350
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 7
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $8,750
  • Unit Type Total Rent: $8,750
  • Unit Type Pro Forma: 8750
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 2

Property History for 1244 Innes Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1244 Innes Avenue

Taxable ValueLand$656,187Additions$514,012Total$1,170,199
Tax Record2023$14,612 ($1,218 / month)
Home Facts
Total Finished SqFt2,336 SqFtAbove Grade Finished SqFt2,336 SqFtStories1Lot Size9,913 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLAR3CountyLOS ANGELESAPN5406-015-041

Schools near 1244 Innes Avenue

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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1244 Innes Avenue is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on December 12, 2023 by ALTC Realty, it's currently listed at $4,500,000. It has been on the market for a total of 131 days and was last sold on December 4, 2017. 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. 1244 Innes Avenue is a 12-bed, 20-bath, 8,864 sqft multi-family home built in 2024.

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 ALTC Realty, Alan Lu, DRE #01514595

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.