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1556 Morton AVE Los Angeles, CA 90026
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Key Details
Sold Price $1,061,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,426 sqft
Price per Sqft $744
MLS Listing ID 23238227
Sold Date 06/28/23
Bedrooms 2
HOA Y/N No
Lot Size 3,166 Sqft
Property Description
*LEFT UNIT WILL BE DELIVERED VACANT!!* RARE FIRST TIME ON MARKET IN 80 YEARS! IT'S AN OPPORTUNITY MARKET, AND THIS IS THE CAN'T MISS OPPORTUNITY YOU'VE WAITED FOR. BIG UPSIDE, WITH MULTIPLE POSSIBILITIES. SUPER-RARE COMMERCIALLY ZONED DUPLEX ON AN EXCELLENT "PRIME A" Triangular Corner location that is as trendy and popular as it gets. This versatile LAC2-zoned property can continue as residential or be re-purposed in as a Triple-net Retail space at pro-forma $6,142/month (think BROOME STREET GENERAL STORE in Silver Lake). The lots C-2 zoning allows new construction max 2-Story, 35 feet tall (~4,000 sq. ft. interior) new build. Next to Canyon Coffee, Cookbook LA Grocery, Des Pair Books, and Glowing Plant-Based Eatery. This block of Echo Park blvd is completely redeveloped, with many well-known architects and development projects since 2015. For both living and lifestyle - this junction attracts locals from Atwater, Silver Lake, Los Feliz, and all of NELA. As cute residential bungalows, it currently generates great income already. With its versatility and location, the UPSIDE future possibilities are easy to see. Plus, both units are in good condition with charming character intact. Each unit has washer and dryer hook ups. Each unit has a new European-style HVAC unit. Current tenants are stable & low-maintenance. Pro-forma market rents are $6,000/month (residential) or $6,142/month (retail triple-net commercial). A short stroll to nature trails and Dodgers Stadium in Elysian Park also. Tenant occupied (1558 unit may be delivered vacant) - shown to pre-qualified buyers only. Sold as-is. Welcome to Echo Park!
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAC2
Interior
Heating Wall Furnace
Fireplaces Type None
Fireplace No
Exterior
Garage None
View Y/N No
View None
Building
Architectural Style Craftsman
New Construction No
Others
Senior Community No
Tax ID 5419014002
Special Listing Condition Standard
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Bought with Helen B. Kim • Mokins Realty, Inc.
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