2136 Lemoyne Street

Listing provided courtesy of: eXp Realty of California Inc

Property Description

Echo Park Duplex Renovated, Tenant-Occupied, and Investor-Friendly with ADU Upside Potential. Strong investment opportunity in one of Los Angeles' most appealing rental markets. With pro forma cap rate of 6.01% (not including ADU Upside), this renovated Echo Park duplex delivers income in place with month-to-month tenants, low-maintenance ownership from over $350,000 in improvements, and clear upside with a spacious two-car garage suitable for ADU conversion or additional living space. Set on a low-maintenance, natively landscaped hillside lot in Elysian Heights, the property includes two fully detached units, each on month-to-month leases, providing investors with both income and flexibility. Over $350,000 in capital improvements have been completed, including updated electrical, plumbing, and sewer line, renovated kitchens and baths, central HVAC, tankless water heaters, energy-efficient windows and insulation, a new driveway, exterior and interior paint, and full landscaping.The front unit is a classic 1920s Craftsman featuring two bedrooms, one and a half baths, a bonus office, a gas fireplace, an updated kitchen with adjoining laundry, and a private shaded patio. The rear unit is a detached two-story home with two bedrooms plus a large downstairs bonus room or guest suite with its own bath, ideal as a third bedroom or studio. It also includes direct access to a covered patio and a fenced backyard with mature fruit trees. Both units feature their own garage along with additional off-street parking, an attractive amenity for tenants.This property offers a rare combination of immediate cash flow, pride-of-ownership condition, and long-term upside. Perfect for investors seeking stable rental income, a value-add opportunity, a 1031 exchange, or future owner-occupancy with rental income already in place.

• Features:

  Dishwasher, Gas Cooktop, Gas Oven, Refrigerator, Range Hood, Dryer, Washer Living Room Tile, Wood Ceiling Fan(s) Back Yard, Front Yard, Landscaped Attached, Covered, Driveway, Garage, Garage Door Opener, Guest Rear Porch, Covered, Deck, Front Porch, Patio Shingle Carbon Monoxide Detector(s), Smoke Detector(s) Other Blinds, Double Pane Windows

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