REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,590,000
Est. payment | /mo
6 Beds
12 Baths
5,664 SqFt
$ 2,590,000
Est. payment | /mo
6 Beds
12 Baths
5,664 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,664 sqft
Price per Sqft $457
MLS Listing ID 26745529
Bedrooms 6
HOA Y/N No
Year Built 1921
Lot Size 0.850 Acres
Property Description
We are proud to present 1303-1305 Laveta Terrace, a two-parcel, 10-unit investment offering in the Echo Park neighborhood of Los Angeles comprising a nine-unit apartment complex and a detached two-story single-family residence with a private pool, each on its own legally separate lot. The apartment complex at 1305 Laveta Terrace traces its origins to six individual wood-frame bungalows constructed in 1921, each built under its own city permit as a standalone one-story dwelling. Over the following decades these six structures were consolidated into a nine unit apartment configuration across four buildings, housing six studios and three one-bedroom/one-bathroom units with 4,279 square feet of rentable area on a 26,106-square-foot lot. The detached residence at 1303 Laveta Terrace was built in 1968 as a two-story, Type V single-family home with 1,385 square feet, three bedrooms, three bathrooms, central heat and air conditioning, and a private pool on its own 11,059-squarefoot lot (APN 5419-028-030). The combined site totals approximately 37,165 square feet (0.85 acres) with 5,660 square feet of net rentable area across all units. All apartment units are individually metered for gas and electricity, and each has in-unit washer and dryer connections.The offering presents two distinct value-add opportunities within a single transaction. The apartment building delivers approximately 77% rent upside across seven occupied units with vacancy decontrol supporting rent-to-market resets upon turnover, while two vacant apartment units and the detached house represent immediate lease-up income. The house at 1303, with an estimated market rent of approximately $5,800 per month supported by recent single-family sales on the same block exceeding $2.2 million and $3.4 million, offers a new owner the flexibility to lease at market, operate as a short-term rental, or hold as an owner-occupied residence while managing the adjacent apartment building. Together, the properties deliver a combined pro forma gross of approximately $24,685 per month. The two parcels are legally separate and independently transferable for the first time since 1968, giving a buyer structural flexibility to hold, dispose, or develop each lot on its own terms.This is a lender-owned REO disposition with clear title, offering a streamlined acquisition with no seller emotion, no 1031 exchange timeline, and no partnership approval process. The combination of significant rent upside on the apartment side, a vacant and move-in-ready house with pool on a separate legal parcel, meaningful development density beyond the existing 10 units, and documented structural investment at the house positions this property to attract a broad range of value-add investors, developers, and long-term holders in one of LA's most sought-after eastside neighborhoods.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR2
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Driveway
Total Parking Spaces 10
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5419028029
Special Listing Condition Real Estate Owned
Listed by Filip Niculete Marcus & Millichap #01905352
NEARBY SCHOOL & BUSINESS
REVIEWS
MORTGAGE CALCULATOR
Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
Payment
Schedule
Your mortgage payments over 30 years will add up to $0.
Get more info from a local expert!
How Does The Raymond Team Deliver Exceptional Real Estate Service?
Expert Guidance
We educate you on the market and guide you to the best best decision about your move.
Proven Systems
Over 23 years of real estate experience has helped us perfect our results-driven buying and selling systems.
Results Driven
We listen, we communicate, and we track every step of the process to ensure a seamleass transaction.