Bridge Investment Group is pleased to present the Rockdale Pagoda at 1001 Rockdale Ave in beautiful Eagle Rock. Built in 1959, this 8-unit property consists of four - 1 bed/1bath units and four - 2bed/1bath units totaling 6,166 sq.ft. 6 of the units have their own balcony with spectacular views of the city. The other two units have both a front and back entrances into their units and a private area to entertain. Tenants have 8 tuck-under parking spaces and the option for street parking. Parking spaces also have some room behind to tandem park. This 11,358 sq.ft lot offers a community pool and on-site laundry facilities. The building is built very solid and in great condition. The plumbing has been redone. for an 8 unit building, the units are very spaced out so the building feels larger than what is stated on the assessor's record. Three of the units (and potentially a fourth) will be delivered vacant so the new owner will be able to immediately come in, upgrade the units and achieve market rents. Market potential cap rate at well over 5%. This is a must see property to truly appreciate how amazing this piece of real estate is, call for a tour.
Listing provided courtesy of
, Keller Williams Realty
Additional Property Details
Named for a large rock outcropping with the image of an eagle in flight, Eagle Rock is near to downtown Los Angeles but has the appeal of a quiet college town.
Real Estate: Eagle Rock has a wide variety of single family homes for sale. Larger estates are found along Hill Drive, one of the prettiest streets in the area. The area first began to boom in the 1920s as people migrated west from Pasadena and there are a large number of Craftsman and Spanish-style homes and bungalows in the area.
Community Life: Colorado Boulevard is flanked with restaurants and retail stores while Eagle Rock Boulevard adds to the mix with restaurants that appeal to students at local Occidental College. A popular hiking trail winds around near the Eagle Rock. The local farmers market is on Friday nights in the heart of Eagle Rock.
Education: Eagle Rock is part of the Los Angeles Unified School District. Local schools include Dahlia Heights Elementary, Eagle Rock Elementary, and Rockdale Elementary as well as Eagle Rock High School. There are also several charter schools including Renaissance Arts Academy, a charter high school. Local private schools include Westminster Academy and Grace Christian Academy.
Transportation: This area is easily accessed by the 110 Freeway. The Metro is available in nearby Highland Park and there are many bus routes and bicycle lanes.
Local Attractions: This is mostly a residential neighborhood but its small town look attracts many local productions to film here. Local historic buildings include the clubhouse of the Women’s Twentieth Century Club of Eagle Rock, Eagle Rock City Hall, and the former Eagle Rock Carnegie Library which is now the Eagle Rock Community Cultural Center.
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