430 NORTH BIXEL ST
Los Angeles, CA 90026
22 Units by Right
KW Commercial, as exclusive listing agents are pleased to present 430 North Bixel Street, an 8 Unit apartment community located in Echo Park (90026), one of LA’s most dynamic neighborhoods. 430 N. Bixel Street was built in 1923 and consists of 8 apartments units within four separate structures and is sited on a 7,418 square foot street-to-street parcel facing both Bixel and Firmin Streets. The four units on Bixel Street are the quintessential L. A. bungalow style and each unit features a generous layout with 1-bedroom and 1-bathroom each. The four units on Firmin Street are larger units and consist of Four (4) 1-bedroom (plus Dens) and 1-bathroom.
There have been no substantial relocation/buyout discussions with residents therefore the opportunity exists to create true income growth through an active management plan. Three of the eight units have been renovated and the property demonstrates a proven concept that a meaningful renovation will achieve an exceptional market rent. The property has significant income growth potential thus making it an ideal investment opportunity for the long-term investor seeking strong long-term returns. The expenses are kept low since each unit is separately metered for gas and electric utilities and has its own water heater.
430 N. Bixel provides a unique development opportunity in the Echo Park Sub-market near booming DTLA.
Situated just south of Temple St. and the 101 Freeway, this densely populated location gives future tenants access to all the dining, culture, and entertainment Echo Park has to offer. The location has undergone a major economic renaissance during the past decade with development as the driving force.