List Price: $2.59M

Listing Status: Active

Days on Market: 11

6 Bedrooms · 12 Bathrooms · 5,664 sq ft

Property Type: ResidentialIncome

Year Built: 1921

Lot Size: 37,026 sq ft

MLS Number: 26745529

About This Property

We are proud to present 1303-1305 Laveta Terrace, a two-parcel, 10-unit investment offering in the Echo Park neighborhood of Los Angeles comprising a nine-unit apartment complex and a detached two-story single-family residence with a private pool, each on its own legally separate lot. The apartment complex at 1305 Laveta Terrace traces its origins to six individual wood-frame bungalows constructed in 1921, each built under its own city permit as a standalone one-story dwelling. Over the following decades these six structures were consolidated into a nine unit apartment configuration across four buildings, housing six studios and three one-bedroom/one-bathroom units with 4,279 square feet of rentable area on a 26,106-square-foot lot. The detached residence at 1303 Laveta Terrace was built in 1968 as a two-story, Type V single-family home with 1,385 square feet, three bedrooms, three bathrooms, central heat and air conditioning, and a private pool on its own 11,059-squarefoot lot (APN 5419-028-030). The combined site totals approximately 37,165 square feet (0.85 acres) with 5,660 square feet of net rentable area across all units. All apartment units are individually metered for gas and electricity, and each has in-unit washer and dryer connections.The offering presents two distinct value-add opportunities within a single transaction. The apartment building delivers approximately 77% rent upside across seven occupied units with vacancy decontrol supporting rent-to-market resets upon turnover, while two vacant apartment units and the detached house represent immediate lease-up income. The house at 1303, with an estimated market rent of approximately $5,800 per month supported by recent single-family sales on the same block exceeding $2.2 million and $3.4 million, offers a new owner the flexibility to lease at market, operate as a short-term rental, or hold as an owner-occupied residence while managing the adjacent apartment building. Together, the properties deliver a combined pro forma gross of approximately $24,685 per month. The two parcels are legally separate and independently transferable for the first time since 1968, giving a buyer structural flexibility to hold, dispose, or develop each lot on its own terms.This is a lender-owned REO disposition with clear title, offering a streamlined acquisition with no seller emotion, no 1031 exchange timeline, and no partnership approval process. The combination of significant rent upside on the apartment side, a vacant and move-in-ready house with pool on a separate legal parcel, meaningful development density beyond the existing 10 units, and documented structural investment at the house positions this property to attract a broad range of value-add investors, developers, and long-term holders in one of LA's most sought-after eastside neighborhoods.