Property Details
About this Property
This is a 10% interest as a Tenant in Common with 3 other owners who own the remaining 90%. One of a kind Charming Spanish Adobe Style 6 unit 1920's apartment complex. Situated on a large corner lot in a quiet residential neighborhood with tree lined streets. All units are 1 bedroom 1 bath, and several have been remodeled, but have retained the charm and character of the 1920's with ceramic tile in the kitchens and bathrooms, and hardwood floors. There are 4 garages on the side of the property. The property is valued at $1,700,000 and has a TIC Agreement with the three other owners. There is an existing loan with a balance of $575,000 and bears an interest rate of 4.75%. The monthly payment is $3,129.88 of which $2,284.96 was interest and $844.92 was principal reduction as of the May 2025 Mortgage Statement. The loan is a fully amortizing loan that matures on October 1, 2052 so there is no balloon payment. When taking 10% of the NOI of $9,322 and deducting 10% of the annualized Mortgage Payment ($3,759), and then adding back principal reduction of $1,013, the total return is approximately $6,576 or 5.85% on the required cash equity investment of $112,500 and assuming $57,500 of the loan for 10% ownership as a Tenant in Common.
MLS Listing Information
MLS #
CRSB25158948
MLS Source
California Regional MLS
Days on Site
4
Interior Features
Appliances
Oven - Gas, Oven Range - Gas
Laundry
None
Cooling
Window/Wall Unit
Heating
Floor Furnace
Parking, School, and Other Information
Garage/Parking
Garage, Garage: 4 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 6 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1601 Fair Park Ave is a Residential Income in Eagle Rock, CA 90041. This – square foot property sits on a 8,173 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $170,000 and was built in 1928. This address can also be written as 1601 Fair Park Ave, Eagle Rock, CA 90041.
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This listing information is up-to-date as of July 15, 2025. For the most current information, please contact Stephen Lampe, (310) 880-1151
