1040 S Lake Street
Los Angeles, CA 90006
- – beds
- – baths
- – sqft
- 7,609 sqft lot
- 1988 build
- – on site
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We are delighted to introduce Lake Street, an Excellent Value Add Opportunity! Five units will be unoccupied at close, while immediate rent increases can be implemented for the remaining three units, creating the ideal scenario to achieve market rents. With a current Cap. Rate just under 6% and a Market Cap. Rate of over 8%, an astute investor will realize the potential to turn this property into a turn-key asset with strong cash-on-cash returns. The units offer spacious floorplans which provide the ideal foundation for updated and modern renovations. The current owners built the property which consists of four large three-bedroom, two-bath units and four large two-bedroom, two-bath units with eleven parking spaces in an enclosed gate. Other highlights include a laundry room, newer roof, and the potential to add an ADU for additional income. The building is not identified in the Los Angeles RSO and is excluded from the LADBS Soft-story retrofitting program.
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Last updated Mar 27, 2024
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MLS# PW23204104 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/26/24
Mar 26, 2024
|
Sold | CRMLS_CA | $2,250,000 | -6.1% |
|
3/1/24
Mar 1, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $2,395,000 | |
|
1/12/24
Jan 12, 2024
|
Price Changed | CRMLS_CA | $2,395,000 | -9.6% |