The subject property is a 4 unit bungalow, apartment complex built in 1921. The unit mix is two 2+1 units and two 2+2 units. Each unit is its own structure and has its own entrance with no shared walls. The improvements are built on a 7,500 square foot lot with total rentable square footage of 2,002. The area is undergoing a major economic renaissance during the past decade. The new apartment and mixed use developments and existing apartment renovations in the area have provided an increase in the demand for high end rental units. This property offers an affordable option to the high rents that the area now commands. The property sits conveniently near Downtown LA and in close proximity to Lincoln Heights, El Sereno, Mt. Washington, Highland Park, major freeways, and much more.
Some of the older neighborhoods outside of the city cluster in this area which has seen development and gentrification in recent years as hip urban dwellers mix with existing communities and traditions to create vibrant neighborhoods.
One of the older neighborhoods on the Eastside of Los Angeles, Boyle Heights combines history with a thriving Latino community. Close to downtown and rich in tradition, this area is considered one of the areas primed for development. As one of the more established neighborhoods on the Eastside, Boyle Heights is full of older homes including both single-family and multi-family residences for sale.
Catching the wave of hipster living that spread from Los Feliz and Silver Lake, Highland Park offers hip, urban style with a touch of history that comes from being one of the older neighborhoods in Los Angeles. Highland Park is fuller of older homes including both single-family and multi-family residences for sale. Craftsman and bungalow homes as well as Spanish-style homes are popular here.
Named for a large rock outcropping with the image of an eagle in flight, Eagle Rock is near to downtown Los Angeles but has the appeal of a quiet college town. The area first began to boom in the 1920s as people migrated west from Pasadena and there are a large number of Craftsman and Spanish-style homes and bungalows in the area.
Surrounding areas include Glassell Park, Mount Washington, Lincoln Heights, El Sereno, Cypress Park, East Los Angeles, and Montecito Heights.
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