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320 N Mountain View Avenue

Los Angeles (City), CA 90026
  • $3,450,000
  • STATUS: Active Under Contract
  • ON SITE: 174 Days
  • ID#: 23326497
Under Contract
$3,450,000
  • 14
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 16,401
    SQFT
  • $210
    $/SQFT
Type:
Multi-Family
Built:
2023
County:

School Ratings & Info

Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)


Description

We are pleased to present a nearly completed new construction fourteen (14) unit apartment building located at 319 N Westlake Avenue / 320 N Mountain View Avenue in Los Angeles, California. The subject property is located in a good South Echo Park location just a couple blocks from Echo Park Lake, south of Temple Street and east of Alvarado Street. This nearly completed new construction property contains a good unit mix of four (4) one-bedroom / one-bathroom units set aside for affordable housing, one (1) one-bedroom / one-bathroom market rate unit, seven (7) one-bedroom / one and a half-bathroom market rate units with a bonus den, and two (2) one-bedroom / two-bathroom market rate units with a bonus den. Three (3) units are penthouses on the fifth floor. The one-bedrooms featuring a den can potentially be converted to two-bedroom units. Units on the upper floors have access to impeccable views across LA including Echo Park Lake, Downtown, and Hollywood. There are 0.5 parking spaces per unit for a total of seven (7) parking spaces. This mid-rise property features luxury amenities such as access to private rooftop decks that can be rented for additional income. Tenants will love being within immediate walking distance to trendy Eastside retail, restaurant, and entertainment amenities across W Temple Street and Glendale Boulevard. Some of these amenities include Target, Bloom & Plume Coffee, Tribal Cafe, Clark Street Echo Park, Laveta, 1642 Bar, and more. Outdoor recreation is less than a mile away at Echo Park Lake, with the tennis courts available even closer to the subject property. Situated in a good South Echo Park location, this offering presents an excellent opportunity for an astute developer to capitalize on a finishing a nearly complete new construction mid-rise apartment building free from Los Angeles Rent control (subject to rent restrictions on select units).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-21T12:21:09.123. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/144836269
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320 N Mountain View Avenue Los Angeles (City), CA 90026

  • Price: $3,450,000
  • Status: Active Under Contract
  • On Site: 174 Days
  • ID#: 23326497
14
Beds
0
Baths
0
½ Baths
0.11
Acres
16,401
SQFT
$210
$/SQFT
2023
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
We are pleased to present a nearly completed new construction fourteen (14) unit apartment building located at 319 N Westlake Avenue / 320 N Mountain View Avenue in Los Angeles, California. The subject property is located in a good South Echo Park location just a couple blocks from Echo Park Lake, south of Temple Street and east of Alvarado Street. This nearly completed new construction property contains a good unit mix of four (4) one-bedroom / one-bathroom units set aside for affordable housing, one (1) one-bedroom / one-bathroom market rate unit, seven (7) one-bedroom / one and a half-bathroom market rate units with a bonus den, and two (2) one-bedroom / two-bathroom market rate units with a bonus den. Three (3) units are penthouses on the fifth floor. The one-bedrooms featuring a den can potentially be converted to two-bedroom units. Units on the upper floors have access to impeccable views across LA including Echo Park Lake, Downtown, and Hollywood. There are 0.5 parking spaces per unit for a total of seven (7) parking spaces. This mid-rise property features luxury amenities such as access to private rooftop decks that can be rented for additional income. Tenants will love being within immediate walking distance to trendy Eastside retail, restaurant, and entertainment amenities across W Temple Street and Glendale Boulevard. Some of these amenities include Target, Bloom & Plume Coffee, Tribal Cafe, Clark Street Echo Park, Laveta, 1642 Bar, and more. Outdoor recreation is less than a mile away at Echo Park Lake, with the tennis courts available even closer to the subject property. Situated in a good South Echo Park location, this offering presents an excellent opportunity for an astute developer to capitalize on a finishing a nearly complete new construction mid-rise apartment building free from Los Angeles Rent control (subject to rent restrictions on select units).
Exterior Features

Lot Features Rectangular Lot Parking Features CoveredGaragePull-throughOne Space Parking Total 7 Patio And Porch Features DeckRooftop Pool Features None Pool Private YN No Spa Features None Spa YN No View City Lights View YN Yes

Interior Features

Heating Wall Furnace Heating YN Yes Window Features Tinted Windows

Property Features

Additional Parcels YN No Association YN No Cap Rate 9.25 Garage YN Yes Gross Income 494016 Land Lease YN No Levels Multi/Split Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 397641 New Construction YN No Possession Close Of Escrow Property Condition Fixer Senior Community YN No Special Listing Conditions Standard Zoning LAR4



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-21T12:21:09.123. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372096674-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372096674-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372096674-2.jpg
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395
Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)