Offered for the first time on the market in over thirty years, the property has been meticulously maintained over the lifespan of its ownership. Situated one block from Echo Park Avenue, 1556 Parmer Avenue features three apartment structures totaling 4,772 square feet on a 10,457 square foot lot (0.24 acres).
1556 Parmer Avenue boasts an attractive unit mix of one, two, and three-bedroom units, comprised of 14-bedrooms and 7 baths. With the current leases approximately 100% below market value, there is an enormous amount of upside in the rents. With an influx of tenants from the entertainment industry, young professionals, and devoted families, a new owner will be able to capitalize on market trends.
Located north of Parmer Avenue, between Scott Avenue and Morton Avenue, this prime location offers a plethora of beneficial attributes to help drive strong rental rates. Echo Park Lake, Dodger Stadium, The Mohawk Collective, Echo Plex are all within close proximity to the Parmer apartments. Every day amenities, public transportation options, pubs, eateries, markets and employment centers are nearby, further showcasing the opportunity that 1556 Parmer Avenue has to offer to potential investors.
Based on information from California Regional Multiple Listing Service, Inc. as of June 18th, 2019 at 6:50pm CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.