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$2,200,000
Est. payment /mo
21 Beds
11 Baths
8,652 SqFt
UPDATED:
12/13/2024 08:48 PM
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 8,652 sqft
Price per Sqft $254
MLS Listing ID 24468777
Bedrooms 21
HOA Y/N No
Year Built 1971
Lot Size 9,766 Sqft
Property Description
We are honored to present The Morreale Legacy Portfolio, located in the sought-after Eagle Rock neighborhood (90041). This exceptional investment opportunity features two buildings with a total of 16 units in a highly supply-constrained market. 2012 Yosemite Drive is a mid-century 10-unit building, while 5055 Shearin Avenue offers six mid-century units, both located within blocks of each other. This is the first time these properties, held by the developer's family since their construction in 1968 and 1971, are available on the open market. The portfolio can be sold together or individually. 5055 Shearin Avenue features an outstanding unit mix of (4) 2 Bed & 1 Bath and (2) 3 Bed & 2 Bath Units, with a total rentable square footage of approximately 6,474. 2012 Yosemite Drive includes (9) 2 Bed & 1 Bath, and (1) 3 Bed & 2 Bath Unit, with a total rentable square footage of approximately 8,652. Combined, the buildings offer approximately 15,126 square feet of rentable space on a 16,477-square-foot lot, with ample parking. For astute investors, there's significant value-add potential, including the possibility of adding ADUs and capitalizing on substantial upside opportunities (buyer to verify feasibility). The properties are zoned R1 and RD1.5, situated in a residentially zoned community offering above-market rental rates. Located in the vibrant core of Eagle Rock, the portfolio boasts walk scores of 80 and 88, indicating that most errands can be accomplished on foot. This prime location is near Occidental College, Glendale, Atwater Village, Highland Park, and Pasadena, ensuring enduring appeal to tenants Disclosure**Buyers are to conduct thorough and independent due diligence, including verifying building square footage, lot size, legal bedroom/bathroom count, parking availability, unit mix, year built, zoning, market rents, and the feasibility of ADUs or additional units. PLEASE DO NOT DISTURB TENANTS OR ENTER THE PROPERTY - DRIVE-BY ONLY.
Location
State CA
County Los Angeles
Area 618 - Eagle Rock
Zoning LAR1
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Attached Carport, Covered, Driveway, On Street
Attached Garage Yes
Total Parking Spaces 15
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5685007003
Special Listing Condition Standard
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Listed by Eric Dilanian • Remax Commercial and Investment Realty