SELLER IS MOTIVATED FOR CASH SALE CLOSING BY 8/30/2014. Prime Echo Park Mixed Use property near the corner of Temple and Alvarado just off the 101 Fwy. DTLA Views! The 2 story subject property features Four Residential Units and Five Retail Units plus a newly paved and gated rear parking lot. The exterior of the building was recently painted. The property is 100% occupied and currently generates $5,624 in monthly income. Offered at less than $143/SF and 11 GRM, this is an asset that is poised to increase in value as Temple Blvd undergoes further gentrification. Zoning is LAC2-1VL. Billboard lease is $21/month. The last 4 rents are for the Commercial Stores, and the retail tenant that pays $1,500 rents 2 stores on one lease, but they are separate stores. Numerous new developments are already under construction along the Temple corridor, which many believe is well positioned to undergo further gentrification in the immediate future.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
