1046 LAGUNA AVE, Los Angeles, CA, 90026

(5) unit apartment community located in Echo Park. LOCATON! LOCATION! LOCATION! Located just up the street from Echo Park Lake, and the hip restaurant, shopping, and entertainment options on Sunset Blvd, both only a 5-minute walk away. This is a charming craftsman style property that sits perched on a hillside with views of the City. This (5) five-unit property consists of 3,250 SF and was built in 1920/1922, which sits on a 5,517 SF lot. The unit mix consists of (2) Singles, (1) 1-bedroom/1-bath, and (2) 2-bedroom/1-bath. The apartments are well maintained and feature hardwood floors, private entrances, decks/patios, fireplaces and clawfoot tubs. All units have their own washers/dryers and individual water heaters. The units are also individually metered all utilities significantly reducing operating expenses. Additionally, there are a total of five (5) garages, which include a detached parking garage in the rear alley which could be rented as parking/storage to generate additional income. The parking structure may also offer ADU potential, buyer to verify. No soft-story retrofit is required, and the property just passed its SCEP inspection. There are no COVID balances or delinquencies. The property boasts an 88 Walk Score, "Very Walkable". This value-add opportunity is attractively priced at a going-in 4.79% Cap Rate and 6.48% Pro Forma Cap Rate.* This property is part of a 3-property portfolio consisting of 14 units in total. All properties can be purchased together or individually.