1008 Douglas St, Los Angeles, Los Angeles County, CA, 90026 Los Angeles CA US

$395K REDUCTION! We are proud to present an exciting new development located in the historic Angelino Heights, area of Echo Park. The six-unit property consists of: one 3bed/2bath preexisting home, two new duplexes with two 2bed/2bath units and two 1bed/1bath units, as well as a new 1bed/1bath carriage house unit. The four detached structures work in harmony with each other to create a private and cozy neighborhood feel on the 11,000 square foot corner lot. There is even a community open space area in the middle of the property where tenants can enjoy the quiet and serene environment. With period correct finishes throughout, the project is visually stunning and a true representation of its Victorian roots. Each tenant can enjoy their own parking spaces or use the private entrance into their unit from the street. There is a mix of covered and uncovered off-street parking behind an automated security gate that opens onto an ample interior courtyard. Amenities for each unit include central air and heat (nest systems), tankless water heaters, in-unit washers and dryers, and high-end kitchen appliances. Five of the six units even include a private outdoor space. From an investor's perspective, the importance of being in a historic overlay zone cannot be understated. Barriers from restrictive permitting and city oversight in these areas make projects costly and take much longer to complete. This not only protects the value of the overall investment, but also ensures higher than average rental rates on each unit. The property is low density, with no affordable units, and no RSO on the new units...all within 1,000 feet to Sunset Blvd. Construction on the property is to be completed soon. The sale of the property will be contingent upon Certificate of Occupancy. Find out more about this property. Request details here