1421 Ridge Way, Los Angeles, CA 90026

Property Description

Probate, Subject to Court Confirmation. Accepted offer is $1,050,000. Minimum overbid will be $1,103,000 on Thursday 1/7/21 at 8:30 a.m. in Dept 79 in Los Angeles Superior Court at 111 N. Hill Street. Character rich 5 unit, early 1900's multi-residential property in the heart of historic Angelino Heights HPOZ Zone. Ideal for investor or owner-user who wants to manage themselves to save current management fees. Below market rents gives buyer tremendous upside potential for income growth. With Echo Park on one side and Downtown Los Angeles on the other, this property shows both charm and character. Residents enjoy myriad dining, nightlife and recreation offerings, including Dodger Stadium, Elysian Park hiking trails and Echo Park Lake. Close to the business hubs of Downtown and Hollywood. Set back on a knoll overlooking the street, this property has been recently upgraded. The main 2-story building has a new roof and has been recently painted. It has 4 units, all 1 bedroom, 1 bath with direct access to exterior. This building includes a beautifully renovated owner’s unit. If that weren’t enough, this great property also features a stand-alone , quaint 1 bedroom, 1 bath cottage ideal for owner/user or premium tenant. Echo Park has been called the trendiest neighborhood in Los Angeles, and Angelino Heights is an architectural jewel within this area. This is a rare opportunity to own a fabulous income property in one of the hottest markets in Los Angeles.