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    1618 Lucile Avenue

    Los Angeles (City), CA 90026
    • $3,100,000
    • STATUS: Pending
    • ON SITE: 21 days
    • ID#: 21689814
    Pending
    UPDATED: 61 min ago
    $3,100,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,395
      SQFT
    • $485
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1926
    County:

    School Ratings & Info

    Description

    For sale an extremely rare, mixed-use opportunity in prime Silver Lake one of LAs most prized sub-markets. The property is strategically located just north of Sunset Blvd, part of the famed Sunset Junction neighborhood. The property is comprised of a 5,392 SF mixed-use building built in 1926 and a 1,003 SFR built in 1915. The front mixed-use structure is 2,696 Square Feet and has 2 retail tenants; a bike shop called Golden Saddle Cyclery, and space utilized by a set-designer. Above the retail portion, there are 5 apartments that consist of one 2 Bed + 1 bath unit, and four studios, with one Studio VACANT. The tenants share a large outdoor deck. The House at the rear is a 2 Bed + 1 Bath Unit. Additionally, there is garage space currently occupied by Golden Saddle Cyclery. This prime investment is poised for an astute investor looking to add significant value to a currently underperforming asset with very strong core fundamentals. The lot size is 7,343 SF - allowing for future development (buyer to confirm). With many prominent developments nearby, one to note is the adjacent parcel that is being converted from a church built in 1931 to a 25 room boutique hotel with a restaurant, bar, pool, garden and spa by the Casetta group that plans to open in early 2022! This is an opportunity of a lifetime. On the market for the first time in 50+ Years!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-02-27T15:29:25.61. 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 deemed reliable but is not guaranteed accurate by the MLS or Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.

    www.homefinderorangecounty.com/homes/113966422
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    1618 Lucile Avenue Los Angeles (City), CA 90026

    • Price: $3,100,000
    • Status: Pending
    • Updated: 61 min ago
    • ID#: 21689814
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    6,395
    SQFT
    $485
    $/SQFT
    1926
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    For sale an extremely rare, mixed-use opportunity in prime Silver Lake one of LAs most prized sub-markets. The property is strategically located just north of Sunset Blvd, part of the famed Sunset Junction neighborhood. The property is comprised of a 5,392 SF mixed-use building built in 1926 and a 1,003 SFR built in 1915. The front mixed-use structure is 2,696 Square Feet and has 2 retail tenants; a bike shop called Golden Saddle Cyclery, and space utilized by a set-designer. Above the retail portion, there are 5 apartments that consist of one 2 Bed + 1 bath unit, and four studios, with one Studio VACANT. The tenants share a large outdoor deck. The House at the rear is a 2 Bed + 1 Bath Unit. Additionally, there is garage space currently occupied by Golden Saddle Cyclery. This prime investment is poised for an astute investor looking to add significant value to a currently underperforming asset with very strong core fundamentals. The lot size is 7,343 SF - allowing for future development (buyer to confirm). With many prominent developments nearby, one to note is the adjacent parcel that is being converted from a church built in 1931 to a 25 room boutique hotel with a restaurant, bar, pool, garden and spa by the Casetta group that plans to open in early 2022! This is an opportunity of a lifetime. On the market for the first time in 50+ Years!
    Exterior Features

    Lot Size Units Square Feet Parking Features None Parking YN No

    Interior Features

    Heating Wall Furnace Heating YN Yes

    Property Features

    Country Us Gross Income 158568.00 Gross Multiplier 19.55 Gross Operating Income 153568.00 Net Operating Income 98867.00 Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Total Expenses 54944.00 Zoning Lac2

    Listing provided courtesy of Eric Dilanian of Remax Commercial And Investment Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-02-27T15:29:25.61. 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 deemed reliable but is not guaranteed accurate by the MLS or Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.

     
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    Zen Ziejewski and Team | Keller Williams Realty
    27101 Puerta Real #150
    Mission Viejo CA, 92691