Property Detail

Description

142 N Rampart Blvd is an 18-unit multifamily property in Historic Filipinotown, positioned between Echo Park and Silver Lake and offered at $2,100,000, or approx. $116,667 per unit. Built in 1928, the property totals approx. 13,638 SF on a 6,891 SF lot and includes (12) 1-bdrm./1-bath units and (6) studio units. At current rents, the property performs at a 5.36% CAP and 8.77 GRM. The 3-story property is a vintage brick multifamily building with a painted brick facade, arched windows and entry openings, mature landscaping, and original details throughout. The property is separately metered for gas and electricity and offers community laundry. Current scheduled rents total approx. $19,803 per month, compared with projected rents of $28,440 per month, representing approx. 44% rental upside. At projected rents, the property is expected to perform at a 10.09% CAP and 6.12 GRM. Located in Historic Filipinotown, 142 N Rampart Blvd sits approx. 1.5 miles from Echo Park Lake and the dining and neighborhood businesses along Sunset Blvd in Echo Park. The property is also approx. 1.5 miles from Sunset Junction in Silver Lake, with Virgil Village and its concentration of cafes, restaurants, and neighborhood retail also within a short drive. 142 N Rampart Blvd brings together a $116,667 per-unit basis, substantial rental upside, and the architectural character of a 1920s brick multifamily property. Its location near Echo Park, Silver Lake, and Virgil Village gives the property close access to three of the surrounding area's most established neighborhood destinations.