Lake St Los Angeles, CA 90026

This five-unit apartment building is located at 434 N Lake Street in Los Angeles, California, in a solid Echo Park location, north of Temple Street and west of Alvarado Street. The property features an excellent unit mix of three one-bedroom and two two-bedroom units, all separately metered for electricity, on a spacious 11,683 square foot lot. The property offers over 50% rental upside potential, presenting a prime value-add opportunity, especially with SB1211 allowing for potential ADU conversions in the garage or rear parking lot. Tenants benefit from a gated and secure environment, a lush landscaped front yard, and full on-site parking with eight dedicated spaces. Recent improvements include a new roof and a completed soft story retrofit. Situated on a quiet street just off Temple, the property boasts walkable access to local hotspots like Tribal Cafe, Boba Guys, and Echo Park Lake, as well as connectivity to Sunset Blvd, Beverly Blvd, and the 101/110 freeways. This is a strong opportunity to purchase a legacy asset that has not been on the market in over 35 years with huge value-add potential. With strong rental upside and potential for ADU conversion under SB1211, this property offers a rare investment opportunity. The building size is 4,076 square feet.