1607 Lake Shore Ave Los Angeles, CA 90026

$--

10 Beds
6 Baths
4,478 Sq.Ft.

Off Market

Map preview of 1607 Lake Shore Ave, Los Angeles, CA 90026

Property Overview: 1607 Lake Shore Ave Los Angeles, CA has 10 bedrooms, 6 bathrooms, 4,478 living square feet and 11,900 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

1607 Lake Shore Ave is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $771. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $240,000 for the down payment and will need roughly $24,000 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $56,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 1607 Lake Shore Ave

Last sold on July 12th, 1994

March, 2023
Mar 2, 2023

Date

Expired

CRMLS: 22198759

$2,400,000

Price
Sep 2, 2022

Date

Active

CRMLS: 22198759

$2,550,000

Price
Listing provided courtesy of CRMLS

We are pleased to present a six (6) unit apartment building located at 1607 Lake Shore Avenue in Los Angeles, California. The subject property is situated in a prime Echo Park location east of Glendale Boulevard and north of Sunset Boulevard. Built in 1931, this property contains an incredible unit mix of two (2) one bedroom / one bathroom units, three (3) two bedroom / one bathroom units, and one (1) five bedroom / two bathroom unit. This well-maintained, craftsman style building offers tons of character with no soft-story retrofit required. Each unit has its own private, detached bungalow style building featuring in-unit washer/dryers, individual water heaters, & fully separate meters for all utilities. The property recently passed LA Housing SCEP Inspections. The large 11,900 square foot lot boasts plenty of yard space, decks, patios, one (1) storage space with potential to convert into an ADU unit, fresh landscaping, and much more. Three (3) units lay along Lake Shore Avenue, the other three (3) lay along Lobdell Place, offering separate addresses for each. Tenants will love living in a quiet residential pocket adjacent to the trendiest retail, restaurant, and entertainment amenities available in Los Angeles. 1607 Lake Shore Avenue offers an investor very high initial cash flow on a large 11,900 square foot double lot with remaining upside potential and low operating expenses.

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September, 2022
Sep 2, 2022

Date

Expired

CRMLS: 22136597

$2,998,000

Price
Mar 15, 2022

Date

Active

CRMLS: 22136597

$2,998,000

Price
Listing provided courtesy of CRMLS

An extremely unique sprawling 6-unit property which features individual detached craftsman-style cottages which look and feel like single-family homes. Located in the heart of Echo Park ! 3 of the units sit along Lake Shore Drive and 3 units sit at the rear of the property along Lobdell Place. The addresses are 1607, 1611, 1613 Lake Shore Drive and 1608, 1612, 1614 Lobdell Place. This 4,478 SF property was built in 1931 and sits on a massive 11,900 SF lot zoned RD3-1VL. The unit mix consists of (2) 1-bedroom/1-bath, (3) 2-bedroom/1-bath and (1) 5-bedroom/2-bath. This property has been well maintained offers a ton of character. Unit features include ample outdoor space with front/back yards, decks/patios, hardwood floors and private entrances. All units have their own washers/dryers and individual water heaters. All units are individually metered for all utilities which substantially reduces operating expenses. No soft-story retrofit required and there are no COVID balances or delinquencies. The property boasts an 83 Walk Score, "Very Walkable". This value-add opportunity is attractively priced at a going-in 4.41% Cap Rate and 6.21% Pro Forma Cap Rate.* This property is part of a 3-property portfolio consisting of 14 units in total. All properties can be purchased together or individually.

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July, 1994
Jul 12, 1994

Date

Sold (Public Records)

Public Records

--

Price
June, 1994
Jun 28, 1994

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1607 Lake Shore Ave

Assessed Value (2020): $151,417

Year	Land Value	Improved Value	Assessed Value
2020	$49,404	$102,013	$151,417

About 1607 Lake Shore Ave

Detailed summary of property

1607 Lake Shore Ave is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90026 and is currently off market. This property has 10 bedrooms, 6 bathrooms, roughly 4,478 living square feet, and sits on an approximately 11,900 square foot lot. Homes in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Local nearby listings include 2005 Lemoyne St, 2205 Edendale Ln and 1412 Waterloo St. The average home in Los Angeles, CA is selling in 106 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. If you are the homeowner and looking to sell the home at 1607 Lake Shore Ave 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 1607 Lake Shore Ave

Public county record property details

Beds: 10
Baths: 6
Year built: 1931
Sq. Ft.: 4,478
Lot Size: 11,900
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 9,10
APN: 5419-003-006

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

$1,250,000

Median List Price/Sq.Ft.

$822

Median Sold Price

$1,217,000

Median Sold Price/Sq.Ft.

$985

Total Inventory

Median Sale to List Price %

101.5%

Avg Days on Market

Loan Type

Conventional (22.22%), FHA (0%), VA (0%), Cash (11.11%), Other (0%)

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(714) 706-1823

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