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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 376-8652

$8,995,000

Est. payment - /mo

4 Beds

46 Baths

34,880 SqFt

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 34,880 sqft

Price per Sqft $257

MLS Listing ID 25505683

Bedrooms 4

HOA Y/N No

Year Built 1926

Lot Size 10,001 Sqft

Lot Dimensions Assessor

Property Description

We are pleased to present the Lewelleyn Manor Apartments located at 301-307 N Rampart Blvd, a prime mixed-use investment opportunity in the vibrant Westlake/Echo Park neighborhood of Los Angeles. This well-maintained property comprises 46 residential units, including4 (1 Bedroom +1 Bathroom) units and 42 (Studio) units, offering a diverse tenant mix and consistent rental income. The ground floor is home to three retail tenants, adding additional streams of revenue and increasing the overall cash flow potential. Many of the residential units have been thoughtfully renovated to a high standard, featuring sleek, high-gloss laminate flooring, quartz countertops, glass backsplashes, stainless steel appliances, modern cabinetry, and energy-efficient LED lighting. These upgrades, combined with fresh paint and recessed lighting, create a clean, modern aesthetic that attracts today's discerning renters. The property's common areas have also undergone significant improvements, including new tile flooring, updated paint, and recessed LED lighting, enhancing both the functionality and appeal of the building. An exciting addition to the property includes the installation of brand new, owned washers and dryers in the building's basement. These units will not be leased, offering the opportunity for increased income from laundry services, further improving the property's cash flow potential. The building has individual meters for electricity, while gas consumption is measured by a master meter. Additional income is generated through the RUBS (Ratio Utility Billing System) program and a dish tower located on the roof, further maximizing the investment's potential. With its central location, excellent accessibility, and proximity to key cultural and economic hubs, the Lewelleyn Manor Apartments offers both an attractive and strategically positioned investment in Los Angeles.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAC2

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Parking Features On Street

Building

Story 4

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5156026031

Special Listing Condition Standard

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Listed by Derrick Vartanian • Lyon Stahl Investment Real Estate, Inc.

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301 N Rampart BLVD Los Angeles, CA 90026