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$1,795,000
Est. payment /mo
12 Beds
10 Baths
6,160 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,160 sqft
Price per Sqft $291
MLS Listing ID 25602049
Bedrooms 12
HOA Y/N No
Year Built 1929
Lot Size 4,443 Sqft
Property Description
We are pleased to present 230 N. Reno Street, a character-rich 10-unit multifamily property located in the heart of Los Angeles. Built in 1929, this beautiful Spanish-style building sits on a desirable corner lot and offers tremendous charm and architectural pedigree rarely available in today's market. The property features an excellent unit mix comprising eight (8) one bedroom, one-bath units and two (2) two-bedroom, one-bath units. The well-laid-out floor plans are flooded with natural light and enhanced by vintage hardwood floors, spacious interiors, and an on-site laundry facility, making it a sought-after living experience for tenants. 230 N. Reno is attractively priced with an in-place CAP rate of 6.02% and a 10.02 GIM, providing investors with strong current returns. There is significant upside potential as average rents of $2.39 per square foot remain well below market, positioning the property to achieve a stabilized market CAP rate of 8.63% and a GRM of 7.98. The surrounding area further enhances the property's appeal. Situated in a vibrant and dynamic neighborhood, residents enjoy immediate access to a wide variety of fine dining, nightlife, and retail establishments. The property's central location offers proximity to Downtown Los Angeles, Echo Park, and Silver Lake, areas known for their eclectic mix of culture, entertainment, and community amenities.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area
Exterior
Parking Features None
Building
Story 2
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5156017012
Special Listing Condition Standard
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Listed by Jonathan Taksa Remax Commercial and Investment Realty
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