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222 Roselake Avenue
Los Angeles, CA 90026
**10.03 GRM / 6.18% CAP In place +/- & 7.97 GRM / 8.60% CAP @ Market +/- & Three (3) RTI Adu's** We are pleased to present the opportunity to acquire The Roselake in the submarket of Historic Filipinotown (LA Market) and in close proximity to Echo Park, Hollywood, Koreatown, and DTLA. This offering includes a 10-unit multifamily building built in 1965 with a footprint of approximately 4,716 SF, sitting on a 4,423 SF corner lot zoned LAR4. The Roselake offers an investor a significant value-add opportunity with approximately 25.88% (+/-) of potential upside in rents spread across a desirable unit mix. Delivered with 3 RTI ADUs, the property provides strong in-place income and upside potential. Additionally, it benefits from exceptional visibility and frontage, a low cost per unit, and the possibility of leveraging the high demand for both market-rate and Section 8 tenants. This well-located multifamily property offers a rare opportunity to secure a corner lot with parking and laundry, in a high-demand rental pocket surrounded by new development and continued gentrification. The Roselake is situated in Historic Filipinotown, a diverse and vibrant neighborhood. The property is located close to Echo Park, Hollywood, Koreatown, and Downtown Los Angeles, providing easy access to cultural and commercial hotspots. Historic Filipinotown offers a mix of history and growth, making it a highly attractive area for tenants. Additionally, the property is near Echo Park Lake, numerous cafes, restaurants, and other amenities, offering a rich living experience. This neighborhood continues to experience growth due to its centrality and ongoing gentrification.
PROPERTY INFORMATION
| MLS # | SR24198547 | Lot Size | 4,423 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 1,649,000
Price Per SqFt: $ 350 |
DOM | 221 Days |
| Address | 222 Roselake Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 4,716 Sq. Ft. |
| Postal Code | 90026 | Garage | 4 |
| County | Los Angeles | Year Built | 1965 |
| Bed / Bath | 3 / 0 | Parking | 7 |
| Built In | 1965 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | In Carport |
| EntryLocation | Front |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,759
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/13/2024 | Price Change | $1,649,000 (-0.06%) |
| 11/06/2024 | Price Change | $1,650,000 (0.06%) |
| 10/09/2024 | Price Change | $1,649,000 (-0.06%) |
| 09/24/2024 | Listed | $1,650,000 |
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Listing provided courtesy of Jared Levine, Keller Williams Realty Calabasas. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
