1029 Lord Street
Property Description
The 2-4 Unit Specialists are pleased to present 1029 Lord Street, a 2024-built single-family residence + attached ADU offering strong in-place income, modern construction, and exceptional flexibility just east of Downtown Los Angeles. The property features a 4-bedroom / 3-bath main residence and 3-bedroom / 2-bath ADU, totaling approximately 2,539 square feet. The main residence currently operates as a successful short-term rental, historically generating approximately $5,500-$6,500 per month with less than 9% vacancy and is fully booked for the next three months, while the ADU is currently leased for $2,780 per month. Offering multiple ownership strategies, a buyer can continue the existing short-term rental operation, transition the main residence to a traditional long-term rental, or potentially take delivery vacant for owner occupancy while retaining income from the ADU. This versatility creates an attractive opportunity for investors seeking immediate cash flow as well as owner-users looking to offset their housing costs with rental income. The property is thoughtfully designed with modern finishes, stainless steel appliances, central air and heat, in-unit laundry, two parking spaces, and separately metered utilities, providing the benefits and ease of newer construction. Ideally situated in L.A.'s Central Eastside, 1029 Lord offers convenient access to the DTLA Arts District, Downtown Los Angeles, Echo Park, Silver Lake and surrounding employment and entertainment hubs. With established income, newer construction, and multiple potential rental strategies, 1029 Lord offers a rare level of flexibility for its next owner.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,099,000 |
| No. of Units: | 2 |
| Year Built: | 2024 |
| Opportunity Zone: | No |
| Price per unit: | $549,500 |
| Number of Bedrooms: | 7 |
| Number of Bathrooms: | 5 |
ID: 3yd-MRMLSCA-BB26216405
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