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300 Patton St 8 Unit Apartment Building $1,999,999 ($250,000/Unit) 6.61% Cap Rate Los Angeles, CA 90026
Investment Highlights
- Significant rental upside potential for the savvy investor.
- Includes approved plans for two accessory dwelling units (ADU's).
- Corner lot on a charming residential neighborhood.
- Professionally managed and upgraded by current owner.
Executive Summary
300 Patton Street is an eight-unit multifamily property in the Echo Park neighborhood of Los Angeles that is on the market for the first time since 2016. The property consists of one (1) 1-bed/1-bath and seven (7) 2-bed/1-bath units on a corner lot. Built in 1925, the property has been professionally managed and modernized over the last 10 years.
The 8 units are situated on a 4,193 SF lot at the corner of Patton St. and Court St., within walking distance to coffee shops, restaurants and Echo Park Lake. The property’s proximity to Downtown Los Angeles and some of the most popular points of interest on the eastside ensures strong rental demand and upside for the foreseeable future.
The 8 units are situated on a 4,193 SF lot at the corner of Patton St. and Court St., within walking distance to coffee shops, restaurants and Echo Park Lake. The property’s proximity to Downtown Los Angeles and some of the most popular points of interest on the eastside ensures strong rental demand and upside for the foreseeable future.
Property Facts
| Price | $1,999,999 | Property Subtype | Apartment |
| Price Per Unit | $250,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.61% | Lot Size | 0.10 AC |
| Gross Rent Multiplier | 10.45 | Building Size | 4,060 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1925 |
| Zoning | LACW | ||
| Price | $1,999,999 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 6.61% |
| Gross Rent Multiplier | 10.45 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,060 SF |
| No. Stories | 2 |
| Year Built | 1925 |
| Zoning | LACW |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | - |
| 1+1 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5160-009-009 | Improvements Assessment | $558,928 |
| Land Assessment | $855,646 | Total Assessment | $1,414,574 |
Property Taxes
Parcel Number
5160-009-009
Land Assessment
$855,646
Improvements Assessment
$558,928
Total Assessment
$1,414,574
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300 Patton St
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