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1400 Carroll Ave, Echo Park

100% Renovated Triplex with Approved Plans for 2 ADU's

An artfully restored historical triplex in Echo Park. This triplex currently boasts a 5.19% return, modern amenities, custom finishes, landscaped patios, and comes fully furnished. It also includes SHOVEL READY plans for a 2-bed, 2-bath ADU and RTI plans for a second 2-bed, 2.5-bath ADU, adding over $1M in value. With ADU construction, investors could achieve a 7.5% cap rate, making this restored gem an exceptional find in LA’s hottest market!

The Important
Details

List Price:

Property Type:

Status:

# Units:

Year Built:

Cap Rate:

GRM:

Gross Rent:

Bldg. SF:

Lot SF:

$/SF:

$/Unit:

Unit Mix:

Opportunity Zone:

Parking:

Rent Control:

$2,795,000

Triplex + Plans for 2 ADU's

For Sale

3

1924/2022

5.19%

14.47

$193,176/Year

3,325 sqft

6,822 sqft

$840.60

$931,667

2 x 4b/3b, 1 x 2b/2b

No

Street Parking

Yes

Other Features:

Private Washers/Dryers for Each Unit, Delivered Fully Furnished

The Highlights

  • Fully remodeled! Artfully restored with high-end custom finishes

  • throughout, blending modern amenities with historic charm.

  • Delivered fully furnished! Seller will provide Buyer all furniture free of

  • charge, a value of approximately $75,000.

  • 5.19% current return! With existing tenants paying $7,196, $5,400, and

  • $3,502.

  • Exceptional long-term tenants in place who care for the property, pay premium rents, and love their homes.

  • ADU POTENTIAL! Delivered with plans for two freestanding 2-bedroom ADUs, offering significant rental income and over 1 million in added value.

  • Massive upside! Achieve a close to 7.5% cap rate with ADU development.

  • Delivered fully furnished! Seller will provide Buyer all furniture free of charge, a value of approximately $75,000.

  • Close proximity to Downtown LA! Just 3 miles from Downtown LA, providing convenient access to major job hubs.

  • Tenants pay gas and electric in full, and water is partially paid by tenant, making the expenses on this property very light.

The Neighborhood

<15-Minute Walk

Woodcat Coffee, Tribal Café, Eightfold Coffee, Stereoscope Coffee, Thunderbolt, K Bakery, Guisados, Angels Tacos, Butchr Bar, Monty’s Good Burger, Bar Henry, Bia Om, Vista Hermosa Natural Park, Echo Park Swan Boats

<15-Minute Drive

Pine and Crane Silverlake, The RubyFruit, Millie's Café, Bacari, Silver Lake Farmers Market, 33 Taps Silver Lake, Bar Moruno, Kitsune, Intelligentsia Coffee Silver Lake Coffeebar, 4100 Bar, La Colombe Coffee Roasters

<$15 Uber Ride

Pine and Crane Silverlake, The RubyFruit, Millie's Café, Bacari, Silver Lake Farmers Market, 33 Taps Silver Lake, Bar Moruno, Kitsune, Intelligentsia Coffee Silver Lake Coffeebar, 4100 Bar, La Colombe Coffee Roasters

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Contact

Elizabeth Maddox

818.850.8485

Lauren Cearley

213.302.8662

Property Presented By:

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