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    1618 Lucile Ave

    Los Angeles, CA 90026
    • $3,100,000
    • STATUS: Pending
    • ON SITE: 27 days
    • ID#: 21-689814
    Pending
    UPDATED: 28 min ago
    $3,100,000
    • 4
      BEDS
    • 0.17
      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 the Combined LA/Westside Multiple Listing Service as of 2021-03-05T08:42:20.923. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.emansaridinhomes.com/homes/113962241
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    1618 Lucile Ave Los Angeles, CA 90026

    • Price: $3,100,000
    • Status: Pending
    • Updated: 28 min ago
    • ID#: 21-689814
    4
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,395
    SQFT
    $485
    $/SQFT
    1926
    Built
    Neighborhood:
    Silver Lake - Echo Park
    County:
    Los Angeles
    Area:
    Silver Lake - Echo Park
    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 Area 7343 Other Structures None Parking Garage None Total Parking 0

    Interior Features

    Baths Total 8.00 Cooling Wall Unit(S) Equipment Other Heating Wall

    Property Features

    Assessed Total Value 1167739 Gross Income 158568 Gross Operating Income 153568 Like Units1 4 Like Units2 2 Net Operating Income 98867.00 Number Of Buildings 2 Number Of Units 8 Rent Control YN Yes Sale Type Standard Source Living Area Assessor Source Lot Size Area Vendor Enhanced Total Annual Expense 54944 Type Of Units Investment Year Built Source Vendor Enhanced Zoning Lac2

    Listing provided courtesy of Eric Dilanian DRE#01951699 of Remax Commercial And Investment Realty.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-05T08:42:20.923. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Eman Saridin with RE/MAX of Santa Clarita
    25129 The Old Road STE #114
    Santa Clarita CA, 91381