377 DOUGLAS St, Los Angeles, CA 90026

Property Description

The Douglas is a charming and very rare NON-RENT CONTROLLED 4 unit apartment community (That stabilizes at a 6% CAP rate) in L.A's most compelling rental market, Echo Park (90026). The asset, built in 1907 and renovated with quality workmanship in 2008 is in the center of one of Southern California's hottest locations. The property is in close proximity to DTLA and the newly re imagined Echo Park Lake as well as a math and science magnet school across the street.The asset's vibrant atmosphere reflect the energy of the local community with a unit mix that will attract the areas discerning Gen-Y resident and is perfectly positioned for an owner/user or investor. The property features an excellent unit mix of Three (2) Bedrooms (1) Bathrooms. Along with a (1) Bedroom (1) bathroom unit. All Interiors have their own individual character and the exterior is aesthetically pleasing. All apartment homes feature upgraded commercial copper plumbing and pride of ownership charm.