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1242 Lilac Pl, Los Angeles, CA 90026
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1242 Lilac Pl Los Angeles, CA 90026

$1,050,000
  • 2 Beds
  • 7 Baths
  • 4,604 Sq.Ft.
For Sale
$1,050,000 Get Pre-Qualified
Map preview of 1242 Lilac Pl, Los Angeles, CA 90026

Property Overview: 1242 Lilac Pl Los Angeles, CA has 2 bedrooms, 7 bathrooms, 4,604 living square feet and 5,548 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to offer for sale a seven-unit apartment building located at 1242 Lilac Place in Los Angeles, CA. The subject property is located just north of Sunset Boulevard within the desirable Echo Park submarket. Over the past decade, Echo Park has become one of the most desirable neighborhoods for renters in all of Los Angeles, combining abundant open space with urban walkability. Real estate located on the north end of Sunset Boulevard is viewed as prime, boasting some of the highest rents on the Eastside of L.A. Situated on a 5,548 square foot parcel, the property comprises of five studios and two one-bedroom units. New ownership can potentially add an Additional Dwelling Unit (ADU) in order to maximize income and appreciation potential. The property's desirable location, north of Sunset Boulevard coupled with the significant value-add potential and attractive basis makes 1242 Lilac an excellent acquisition opportunity for investors.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 13 minutes ago | Last updated: May 7th, 2024 | Source CRMLS | DOM: 2
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Home details

Lot Sq. Ft
5,548
HOA Dues
$0/mo
Year built
1921
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24388985
City
Los Angeles
County
Los Angeles
Time on Site
2 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $555
  • Total Rent: $555
  • Pro Forma/Market Rent: $2,132
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $784
  • Total Rent: $784
  • Pro Forma/Market Rent: $2,132
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $561
  • Total Rent: $561
  • Pro Forma/Market Rent: $2,132
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,132
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,132
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $670
  • Total Rent: $670
  • Pro Forma/Market Rent: $2,132
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $767
  • Total Rent: $767
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $655
  • Total Rent: $655
  • Pro Forma/Market Rent: $2,407
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3%
  • Gross Rent Multiplier: 14.29
  • Gross Scheduled Income: --
  • Net Operating Income: $31,500
  • Gross Operating Income: $71,285
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1242 Lilac Pl

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Property Details for 1242 Lilac Pl

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split, Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 2
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 7
  • Parcel Number: 5406012029
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Sunset Boulevard & Vin Scully Avenue
View more facts & features

Local Los Angeles Agent

Sale History for 1242 Lilac Pl

Last sold for $1,350,000 on March 31st, 2022

  • May, 2024

  • May 7, 2024

    Date

    Active

    CRMLS: 24388985

    $1,050,000

    Price

  • February, 2022

  • Feb 2, 2022

    Date

    Pending

    CRMLS: SR21263635

    $999,000

    Price

  • Dec 13, 2021

    Date

    Active

    CRMLS: SR21263635

    $999,000

    Price

  • Listing provided courtesy of CRMLS

    FAMILY TRUST AUCTION!!! RARE OPPORTUNITY TO PURCHASE 7 UNITS ON A STREET TO STREET LOT IN ECHO PARK, CLOSE TO DODGER STADIUM. SITTING OFF OF LILAC PLACE ARE 5 STUDIO UNITS AND (2) 1 BEDROOM UNITS, (DUPLEX) OFF OF VIN SCULLY AVE. SEPARATE GAS & ELECTRIC METERS. 2 WATER METERS. POSSIBLE DEVELOPMENT SITE WITH THIS R4 LOT. BUYERS SHOULD CHECK WITH THE CITY FOR CURRENT BUILDING REQUIREMENTS AND RESTRICTIONS. PROPERTY CURRENTLY IN REAP AND HAS LOS ANGELES CITY NOTICE AND ORDER TO COMPLY. VIOLATIONS, ABATEMENT NOTICES AND LEASE AVAILABLE UPON REQUEST. ALL AUCTION ATTENDEES MUST WEAR A FACE MASK. NO COURT CONFIRMATION.

  • June, 2020

  • Jun 19, 2020

    Date

    Expired

    CRMLS: 19537736

    $1,400,000

    Price

  • Apr 15, 2020

    Date

    Withdrawn

    CRMLS: 19537736

    $1,400,000

    Price

  • Dec 21, 2019

    Date

    Active

    CRMLS: 19537736

    $1,400,000

    Price

  • Listing provided courtesy of CRMLS

    7 value-add units in prime Echo Park. Minutes away from Dodger Stadium. Property is currently in REAP -- please contact Broker for details. NOTE: No financing contingency allowed - all cash offers only.

  • March, 2020

  • Mar 5, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,300,000

    Price

  • December, 2019

  • Dec 18, 2019

    Date

    Active

    CRMLS: 19537700

    $1,400,000

    Price

  • Listing provided courtesy of CRMLS

    Value-add, 7-unit property located in prime Echo Park. Minutes away from Dodger Stadium.Property currently in REAP -- please call Broker for details.NOTE: No financing contingency allowed - all cash offers only.

  • April, 2019

  • Apr 29, 2019

    Date

    Sold (Public Records)

    Public Records

    $422,000

    Price

Show More

Tax History for 1242 Lilac Pl

Assessed Value (2020): $755,596
Year Land Value Improved Value Assessed Value
2020 $451,015 $304,581 $755,596

Home Value Compared to the Market

This property vs the competition

1242 Lilac Pl is listed 14.98% lower than the median list price for the city of Los Angeles which has a median list price of $1,235,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $228.06 per/sqft which puts the price per square foot 70.53% lower than the median price per square foot for the city of Los Angeles.

About 1242 Lilac Pl

Detailed summary of property

1242 Lilac Pl is a multi family located in Los Angeles, CA 90026 and is currently for sale. This multi family property offers 2 bedrooms, 7 bathrooms, roughly 4,604 living square feet, and sits on an approximately 5,548 square foot lot. 1242 Lilac Pl was first listed on ArdentRealEstateGroup.com on May 7, 2024. The homeowner is currently asking $1,050,000. The median priced home in Los Angeles is $1,235,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 14.98% lower than the median priced home. Local competing homes currently for sale include 250 N Alvarado St, 230 N Alvarado St and 230 N Alvarado St. While the average home in Los Angeles, CA is selling in 94 days, 1242 Lilac Pl has a days on market of 2 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 1242 Lilac Pl Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1242 Lilac Pl

Public county record property details
Beds
7
Baths
7
Year built
1921
Sq. Ft.
4,604
Lot Size
5,546
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
24,25
APN
5406-012-029

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,225,000
Median List Price/Sq.Ft.
$766
Median Sold Price
$1,450,000
Median Sold Price/Sq.Ft.
$817
Total Inventory
62
Median Sale to List Price %
105.92%
Avg Days on Market
13
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (15.38%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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