1330 Portia Street, Los Angeles, CA 90026

About this property

We are pleased to present a ten (10) unit apartment building located at 1330 Portia Street in Los Angeles, California. The subject property is situated in a prime Echo Park Location, north of Sunset Boulevard and east of Echo Park Avenue. Originally built in 1966 and renovated in 2022, this property contains a good unit mix of seven (7) one bedroom / one bathroom units, one (1) one bedroom / one bathroom unit featuring a full private basement, one (1) studio / one bathroom ADU unit, and one (1) one bedroom / one bathroom ADU unit. This renovated building boasts six (6) remodeled units and two (2) brand new construction ADU units with new flooring, stylish built-ins, quartz counters, stainless steel appliances, in-unit washer/dryers, sliding glass closets, and updated recessed lighting. The property itself features fresh low maintenance landscaping, a brand new roof, all new plumbing, copper repipe and new sewage, new main electrical panel upgrade and new in-unit electrical panels, new mini splits, wood deco aesthetic in the front, new windows, parking for select units, a completed soft-story retrofit, and more. All units are separately metered for gas and electricity. Tenants will love being within walking distance to some of the trendiest retail, restaurant, and entertainment amenities in Los Angeles. Some of these include nooworks fashion, Konbi, Brick Works, Short Stop, Little Joy Cocktails, Stereoscope Coffee, Alternate Universe, and many more. Most notably, outdoor recreation at Echo Park Lake is located less than half a mile away. Situated in a prime Eastside location, this offering presents an excellent opportunity to acquire a well renovated new construction feel with over a 5% initial cap rate.

Listing description from the November 2022 sale, as reported to CRMLS.

Sale history

$3,800,000

Sold November 2022 · listed $3,950,000, orig. $4,150,000, on market July 2022 · MLS #22175193 · Source: CRMLS

Listing Agent: Jason Tuvia · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Nicholas Fichera · Figure 8 Realty

$2,450,000

Sold December 2021 · listed $2,500,000, on market November 2021 · MLS #21105703 · Source: CRMLS

Listing Agent: Matthew R. Kanner · Listing Office: Keller Williams Realty Los Feliz · Contact: 323-300-1000 · Bought with: Matthew R. Kanner · Keller Williams Realty Los Feliz

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