1852 -62 N Edgemont Street, Los Angeles, CA 90027

Occupying two parcels with excellent visibility on the corner of Franklin Avenue and Edgemont Street, the property features a favorable unit mix with mostly two-bedroom units, half of which are townhouse floor plans. The classic French-Normandy buildings house spacious apartment layouts, with units averaging over 1,000 square feet of living area. Several units have already been renovated, providing a blueprint to add considerable value to the remainder of the property and potentially recapture approximately 36% in rent upside. A unique and lucrative benefit of this property is the substantial amount of supplemental income that it generates, by virtue of its 12 private parking garages, six additional open spaces, and landlord-owned laundry facilities. Together, these secondary income streams produce more than $22,000 annually for the owner. Although Los Feliz is directly adjacent to the bustling neighborhoods of Hollywood, Silver Lake, and Glendale, the hillside area is generally … read more …