1242 Lilac Pl Los Angeles, CA 90026-4419
Property profile & analytics
1242 Lilac Pl Los Angeles, CA 90026-4419
- Apartment buildings
- 4,604 SF
- 0.13 lot acres
Property ID
US09-7758194
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 1242 Lilac Pl
- Year built
- 1921
- Construction
- WOOD
- Lot size
- 0.13 lot acres
- Property size
- 4,604 SF
- Zone code
- LAR4
- Property type
- Apartment buildings
- APN
- 5406-012-029
- APU
- 5406012029
Description
This 7-unit apartment building, located at 1242 Lilac Place in the desirable Echo Park neighborhood of Los Angeles, CA (90026), presents a compelling value-add investment opportunity. The property, built in 1921, consists of two buildings across two stories, encompassing a total of 4,604 square feet on a 5,548 square foot lot. The building comprises five studio and two one-bedroom units, currently generating a NOI of $31,500, with a 3.00% cap rate. However, significant upside potential exists, with a pro-forma NOI projected at $160,183 and a pro-forma cap rate of 15.26%. The asking price is $1,050,000, translating to $150,000 per unit and $228.06 per square foot. The property is zoned LAR4, and permits are currently in "RTI" status for the addition of an Accessory Dwelling Unit (ADU), further enhancing income and appreciation potential. This prime location, north of Sunset Boulevard, offers convenient access to employment centers, retail, nightlife, and entertainment options in Echo Park, Silver Lake, and Downtown Los Angeles. The current rental income represents substantial upside potential through interior renovations, not including the potential ADU income. This presents a rare opportunity to acquire a multifamily property in a highly sought-after Los Angeles submarket at an attractive basis.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,045,000
- ML approach
- $1,060,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,746,000
Market price range: $437k - $1.75M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,270,000 Current use
- MEDICAL BUILDING
- $2,095,000 Change: +65% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,965,000 Change: +54% Conversion: Moderate
- NEIGHBORHOOD: SHOPPING CENTER
- $1,950,000 Change: +53% Conversion: Difficult
- RETAIL STORES
- $1,890,000 Change: +49% Conversion: Difficult
- WAREHOUSE, STORAGE
- $1,285,000 Change: +1% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.25
- Latitude
- 34.0728
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$17,849
$1,092,420
$312,120
$1,404,540
-
$0.00
$0.00
$0.00
