We are pleased to offer 1215 Neola Street, a 4-Unit (3+1 non-conforming) apartment community located in the rarely available and emerging trendy neighborhood of Eagle Rock. Situated on a tree-lined residential street full of charming cottages, 1215 Neola Street offers its tenants a quiet place to relax all while being within close proximity to the best of what the city and the surrounding areas have to offer including Occidental College, Yosemite Recreational Center, Kidspace Children’s Museum, Elysian Park and Dodger Stadium. The offering at Neola Street is ideally located just east of Downtown Los Angeles and a short distance to Burbank via the 134 Freeway offering tenants ease of access throughout the greater Los Angeles metro area. Tenants of the property enjoy washer/dryer hookups (in the three-bedroom units), wall heaters, secured access and onsite parking. Neola Street offers a unique and beneficial opportunity for a new investor as two of the four units can be delivered vacant at the close of escrow. This would provide an investor with the ability to obtain market-level rents (on those two units) and almost triple the cash flow within the first year. Also, there is potential to build ADU's (accessory dwelling units) under the recently expanded ADU program.** This will allow for additional permitted units that can produce further income and dramatically enhance the value of the property. **Buyer to be responsible to verify with the city of Los Angeles
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