Residential Income – 1580 Yosemite Drive, Eagle Rock, CA 90041, US -001-11-30T00:00:00-08:00
PRIVATE TOURS ARE AVAILABLE WITH AN APPOINTMENT. SEE AGENT REMARKS. Proforma CAP Rate is over 7% with proven / achieved rents. Yosemite Gardens is a 50-unit community situated on a large ±2.06 acre lot. The large lot and RD1.5-1 zoning allow additional 26 u
1580 Yosemite Drive, Eagle Rock, CA 90041, US
$16,000,000 USD
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Address1580 Yosemite Drive, Eagle Rock
Price$16,000,000
Price Changed3.03% (-$500,000, 18 days ago)
Year Built1951
Bedrooms Total0
Lot Size (Sq.Ft.)89,658
Listing IDAR18267262
StatusActive
Parcel Number5689028030
ZoningLARD1.5
Special ConditionsStandard
Days on Market133

Detailed Description: PRIVATE TOURS ARE AVAILABLE WITH AN APPOINTMENT. SEE AGENT REMARKS. Proforma CAP Rate is over 7% with proven / achieved rents. Yosemite Gardens is a 50-unit community situated on a large ±2.06 acre lot. The large lot and RD1.5-1 zoning allow additional 26 units to be built on site (BUYER TO VERIFY). The property is a Mid-century, well-maintained, two-story, value-add apartment community in the Eagle Rock area of the City of Los Angeles, California. The community has a center driveway with large, landscaped outdoor common areas and consists of 3 main buildings with multiple detached private garages. It was built in 1951, has a ±44,272 sq.ft building size on an oversized 89,658 sq.ft lot. The property has 2 parcels and 2 different zonings. The property offers walkable amenities, easy transportation access, and close proximity to LA’s most exciting neighborhoods. It has an excellent unit mix of 27 x 2bedroom + 1bathroom and 23 x 1bedroom + 1bathroom. Each unit (average unit size ±885 sq.ft) has an excellent layout with original hardwood flooring, large windows, individual water heaters, tiled kitchens and tiled bathrooms, ceiling fans, and a dishwasher. Approximately 13-units have been upgraded with restored hardwood flooring, new kitchen finishes, and restored bathroom. The property separately metered for electricity and gas and is cable and Wi-Fi ready.

Association
Laundry
Parking
Pool Private
Rent Control
Senior Community
Property Attached
Land Lease

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Address Information
Address1580 Yosemite Drive, Eagle Rock
Street SuffixDrive
CityEagle Rock
Location (MLS Area)618 – Eagle Rock
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90041
Postal Code Plus42855
CountryUS
Financial Information
Price Changed-3.0303%
Previous Price$16,500,000
Price per Lot Square Foot$178.46
Price per Unit$320,000
Tenant PaysElectricity, Gas, See Remarks
Special ConditionsStandard
Total Expenses$338,868
Operating Expense$338,868
Trash Expense$12,323
Gross Operating Income$915,312
Gross Income$943,621
Gross Scheduled Income$943,621
Net Operating Income$576,445
Gross Multiplier16.96%
Tax Year2000
New Taxes Expense$190,719
Full Descriptions
Parcel Number5689028030
Detailed DescriptionPRIVATE TOURS ARE AVAILABLE WITH AN APPOINTMENT. SEE AGENT REMARKS. Proforma CAP Rate is over 7% with proven / achieved rents. Yosemite Gardens is a 50-unit community situated on a large ±2.06 acre lot. The large lot and RD1.5-1 zoning allow additional 26 units to be built on site (BUYER TO VERIFY). The property is a Mid-century, well-maintained, two-story, value-add apartment community in the Eagle Rock area of the City of Los Angeles, California. The community has a center driveway with large, landscaped outdoor common areas and consists of 3 main buildings with multiple detached private garages. It was built in 1951, has a ±44,272 sq.ft building size on an oversized 89,658 sq.ft lot. The property has 2 parcels and 2 different zonings. The property offers walkable amenities, easy transportation access, and close proximity to LA’s most exciting neighborhoods. It has an excellent unit mix of 27 x 2bedroom + 1bathroom and 23 x 1bedroom + 1bathroom. Each unit (average unit size ±885 sq.ft) has an excellent layout with original hardwood flooring, large windows, individual water heaters, tiled kitchens and tiled bathrooms, ceiling fans, and a dishwasher. Approximately 13-units have been upgraded with restored hardwood flooring, new kitchen finishes, and restored bathroom. The property separately metered for electricity and gas and is cable and Wi-Fi ready.
Lot FeaturesBack Yard, Garden, Lot Over 40000 Sqft, Lot Shape-Irregular, Lot-Level / Flat, Near Public Transit
Community FeaturesSuburban, Valley
Flooring DescriptionWood
Water SourcePublic
Laundry FeaturesArea, Community
Parking FeaturesAssigned
Sewer DescriptionPublic Sewer
Common Walls Description2
Pool FeaturesNone
Property parameters
Year Built1951
Lot Size (Sq.Ft.)89,658
Lot Size (Acres)2.058
Lot Size SourceAssessor
Number of Buildings3
Number of Units Total50
ZoningLARD1.5
Stories Total2
Parking Spaces50
Garage Spaces50
LevelsTwo
Water SourcePublic
Units Total50
Year Built SourceAssessor
Vacancy Allowance Rate3%
Average 1 Bedroom Area700 ft2
Average 2 Bedroom Area900 ft2
Number of Separate Electric Meters51
Number of Separate Gas Meters51
Number of Separate Water Meters1
Units with Dishwasher50
Units with Disposal50
Units with Refrigerator50
Cap Rate (For Cash Payment Only)3.6
Listed withHandoko Chen (GIG Real Estate Inc.)