1631 Champlain Terrace

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1631 Champlain Terrace

Los Angeles, California

$1,395,000

Overview

Residential
Property Type

4
Bedrooms

2
Bathrooms

1952
Sqft

309442
Property ID

Description

Nothing but good vibes at this beautiful live/work/invest property perched at the top of Elysian Heights. The versatile property consists of a light and bright 3 bed / 1 bath main house, a permitted and vacant 1 bed / 1 bath ADU, and a converted garage that makes a perfect home office. The main house features an open floorplan, vaulted ceilings, updated kitchen & bath, plus a primary bedroom with peaceful views and walk-in closet. You can look forward to enjoying your morning coffee on the charming front porch or after a hard day you can unwind with a glass of wine on the side patio. Below the main home is a spacious (750 sq.ft.) rental unit that was previously rented for $2,500 per month. This rental income could offset approximately $400,000 of your loan! Or, keep the unit as a comfortable guest suite for out-of-town visitors/in-laws, or perhaps try to maximize your return by making it into a short-term rental (or home-stay exchange). The 170 sq.ft. detached garage has been thoughtfully converted into a tranquil space that lends itself to someone with an at home practice (i.e. therapy, yoga, Pilates, art, etc.). There is also great storage on the property with an additional 170 sq.ft. laundry room and over 200 sq.ft. of basement space. The property is sited on a prime corner lot that not only provides wonderful views but also privacy as you are situated above your neighbors. You will quickly fall in love with this vibrant Echo Park neighborhood where you can grab an iced latte at Canyon Coffee after hiking in Elysian Park or perhaps you can try the famous Cacio e Pepe at Baccetti Trattoria for a fun night out. The possibilities are endless!