1922 Lake Shore Avenue

Los Angeles, CA 90039

$1,495,000
Price
4
Beds
4
Baths
2,302 Sq. Ft.
$649 / Sq. Ft.
2,302
Sq. Ft.
$649
per Sq. Ft.

Description

We are pleased to offer for sale a three-unit apartment community located at 1922-1924.5 Lake Shore Avenue. The subject property is located east of the Glendale Freeway and north of Sunset Boulevard. The property is located in Elysian Heights, which is typically characterized as being part of Echo Park & near Silver Lake. This submarket's popularity has grown significantly over recent years, with a vibrant and lively nightlife scene and trendy retail and coffee shops in the immediate area. With rent...We are pleased to offer for sale a three-unit apartment community located at 1922-1924.5 Lake Shore Avenue. The subject property is located east of the Glendale Freeway and north of Sunset Boulevard. The property is located in Elysian Heights, which is typically characterized as being part of Echo Park & near Silver Lake. This submarket's popularity has grown significantly over recent years, with a vibrant and lively nightlife scene and trendy retail and coffee shops in the immediate area. With rent growth and developments in the area, the location has been catering to families, young professionals and artists alike in recent years. The property is situated on a large 9,999 square foot parcel and is comprised of two one-bedroom units and one two-bedroom unit. One unit will be delivered vacant allowing new ownership to immediately renovate and rent the unit out for a market rental rate. There is 24% remaining rental upside that new ownership can capture through interior renovations. Taking into consideration the desirable location and remaining value-add components, 1922-1924.5 Lake Shore Avenue is well suited to provide investors with healthy returns and long-term appreciation potential.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1922 Lake Shore Avenue

Zoning
LAR1
Parcel Number
5420010015
Total Units
3.0
Living Area
2302
Source Living Area
Assessor
Area
Silver Lake (671)
Vacancy Rate
1
Lot Size Area
9999

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343
Add your commute
LISTING UPDATED: 04/12/2024 12:01 AM

Property Details for 1922 Lake Shore Avenue

StatusActive
MLS #24-376363
Days on Market31
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1903
Lot Size0.23 AC / 9,999 SF
CountyLos Angeles County

Location

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

Building Information for 1922 Lake Shore Avenue

Stories2Residences-Year Built1903Building Size-Lot Size0.23 AC / 9,999 SF

Payment Calculator

$8,653 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,159

Property Taxes

$494

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1922 Lake Shore Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • 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: $87,384
  • Net Operating Income: $59,744.00
  • Gross Income: $87,384
  • Cap Rate: 4.00%
  • Gross Rent Multiplier: $17.11
  • Total Annual Expense: 27640
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2296
  • Lot Size Square Feet: 9999
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 3
  • Parking Features: None
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: 04-04-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,554.00
  • Unit Actual Rent: $2,554.00
  • Unit Projected Rent: $3,750.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,978.00
  • Unit Actual Rent: $1,978.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $164,186.00
  • Assessed Improvement Percent: 35.7
  • Assessed Land Value: $295,780.00
  • Assessed Land Percent: 64.3
  • Assessed Total Value: $459,966.00

Property History for 1922 Lake Shore 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 1922 Lake Shore Avenue

Taxable ValueLand$295,780Additions$164,586Total$460,366
Tax Record2023$5,931 ($494 / month)
Home Facts
Total Finished SqFt2,302 SqFtAbove Grade Finished SqFt2,302 SqFtLot Size9,999 SqFtStyleTriplexYear Built1903ZoningLAR1CountyLOS ANGELESAPN5420-010-015

Schools near 1922 Lake Shore Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Clifford Street Elementary School
PublicK to 5

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Gabriella Charter School
CharterK to 8

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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1922 Lake Shore Avenue is a multi-family home for sale in Los Angeles, CA 90039. This property was listed for sale on April 4, 2024 by Marcus & Millichap, it's currently listed at $1,495,000. It has been on the market for a total of 31 days and was last sold on June 23, 2011. This listing's school district is Los Angeles Unified School District. Nearby schools include Clifford Street Elementary School, Thomas Starr King Middle School and John Marshall Senior High School. 1922 Lake Shore Avenue is a 4-bed, 4-bath, 2,302 sqft multi-family home built in 1903.

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.