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3329 Merced Street
Los Angeles, CA 90065


Property Remarks

3329 Merced Street is located in the rapidly growing Eastside neighborhood of Cypress Park and adjacent to the new LA River Wetlands project. This charming 1921 Spanish Cottage style property consists of one (1) 2 Bedroom/2 Bath Single Family Home and four (4) 1 Bedroom/1 Bath Cottage units. Each unit has their own private entrances, water heaters, and are individually metered for gas and electricity. The 2+2 SFR and one Cottage are currently vacant and have been beautifully renovated with hardwood floors throughout, stainless steel appliances, new fixtures, NEST thermostat systems, new counter tops and cabinets, and updated bathrooms. There is approximately 69% upside in rents to be achieved in the remaining three units. As Silver Lake & Echo Park have become saturated with development projects and high land prices, this is an exceptional opportunity to invest in a neighboring market that has tremendous growth potential. Cypress Park was Zillow's #1 pick in 2017 for Los Angeles.

Property Details

MLS#
18308916
Days on Market
89
Year Built
1921
Stories
1
Building/Living Area (sq ft)
3,003
Source of SqFt
Seller
Source of Lot Size
Public Records

Location

State
CA
County
Los Angeles
Area
Cypress Park (CYPK)

Presented By:

Listing provided courtesy of Kenny Stevens , Concord Real Estate Service


Exterior

Lot Acreage
0
Paved
No
Waterfront
No


Additional Property Details

Number of Units
5
Number of Buildings
3
Gross Operating Income
$68,043
Total Expense
$23,613
ADA Compliance
No

Parking
On Street

Mount Washington

Views of Los Angeles define the close-knit and hilly neighborhood of Mount Washington. Rivaling San Francisco for its inclines, Mount Washington seems removed from the city even as the skyline glitters in the distance.

Real Estate: Homes for sale in Mount Washington take full advantage of sweeping views of Los Angeles and the privacy afforded by the hills and sheltering trees. The steep and winding streets are full of homes in a variety of styles from Spanish charmers and modest bungalows to mid-century moderns, many with architectural provenance, and contemporary homes.

Community Life: Mount Washington is a residential neighborhood with much of the dining and shopping taking place in nearby Highland Park and Eagle Rock. There are a few local shops and cafés. Elyria Canyon Park is located on the southwestern slopes of Mount Washington and is a 35-acre nature park with a network of trails leading to city vistas. The Carlin G. Smith Recreation Center includes an auditorium, basketball court and picnic area.

Education: Mount Washington is served by the Los Angeles Unified School District and Mount Washington Elementary.  There are no private schools in this neighborhood but there are some in adjacent areas.

Transportation: This area is easily accessed by the 110, 2 and 5 Freeways. The Metro Gold Line has a station near the Southwest Museum.

Local Attractions:  The Southwest Museum of the American Indian is a museum, library and archive that is part of the Autry National Center. The International Headquarters of the Self-Realization Fellowship is based in the former Mount Washington Eagle Hotel and has beautiful gardens. This area is also home to Eldred Street, one of the steepest streets in Los Angeles. 

Community Explorer

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