The subject property is centralized and near Silver Lake, Westlake, East Hollywood, Koreatown, Downtown LA and Echo Park areas. This provides an opportunity for a savvy investor/owner occupant/developer to purchase a two-level residence/duplex in an up-and-coming revitalization area in Los Angeles. The city of LA is currently making substantial improvements to the roads surrounding the property which illustrates the city's intention to improve the area. Conveniently located less than one mile (0.8) to the 101 Freeway, this Mid-Los Angeles two story Duplex Craftsman fixer upper is zoned LARD1.5 maintains separate gas and electric meters with a detached garage and alley access for parking. The property currently maintains two lessees one for each level and the property is under rent control however it is not under the Rent Stabilization Ordinance (RSO). One tenant pays $780, and the second tenant pays $725 per month and there are existing month to month leases. The address for the first level of the property is 110 and the unit on the second level is 108. The residence is currently a duplex; however, the seller is uncertain about the second level permits (if any). Buyer and buyer's agent to verify with the city all information regarding the property. The listing is priced well below market to accommodate a buyer managing the tenants AFTER THE CLOSE OF ESCROW. Full marketing package is available.
