tomo logo

$899,999

Beds
2
sq ft
1,058

308 E Edgeware Rd, Los Angeles, CA 90026

308 E Edgeware Rd

Los Angeles, CA 90026

  • 26 days on market
This income producing duplex in Echo Park consists of two detached units and presents a fantastic investment opportunity. It features a tenant-occupied front unit which provides immediate cash flow and a vacant back unit that is a blank canvas. The back unit has been taken down to the studs and is ready for your vision. The front unit offers reliable income with its one bedroom and one bathroom layout, while the back unit allows for significant renovation potential, ideal for savvy investors or flippers looking to maximize their return. The front unit has the same layout as the back unit, but the front unit is complete with reliable tenants. This property could become a positive cash flowing property once the back unit has been repaired and both units have tenants are market value. With separate entrances for privacy and a gated entry, this property is a prime opportunity to enhance your real estate portfolio. It is also located in a desirable neighborhood with strong rental demand. Don't miss out on the opportunity to secure this value-add property in the heart of one of the most up and coming neighborhoods of Los Angeles.

Details

Property type

Est. home value

$888,385

Property condition

Fixer
Under Construction

Lot size

4,179 sq ft

Price per sq ft

$851

Year built

1936

HOA

No

Price History

10/24/2024
CLAW

CLAW #24456443

Listed
$899,999

Schools & Community

Neighborhood: 

Westlake

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Frank F Hsin

Loan start date

August 2016

Original loan amount

$30,000

Est. remaining balance

Not provided

Interest rate

3.54%

Loan type

Seller take-back

Seller

William Lenihan

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/20/2024 at 2:40 AM

Listing updated: 11/01/2024 at 8:15 AM

Listed by: Adam Armienta, Douglas Elliman Phone #: (310) 595-3888

MLS: CLAW #24456443

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