2142 Baxter Street
Multifamily | 5.16% CAP | 3 Units
Marketing description
Built in 1910 in the historic Edendale Tract, the Echo Park hillside that became the cradle of Los Angeles' early film industry, this California bungalow carries a century of character on one of the city's most storied walk streets. Set on a rare 7,407-square-foot lot, it pairs that heritage with three income-producing spaces and an extraordinary private orchard. Inside, the classic hillside-cottage architecture opens to interiors warmed by refinished hardwood floors, updated kitchens and baths, modern appliances, and air-conditioning. The layout is configured as two one-bedroom residences plus a separate studio, a flexible footprint that lets an owner live in one and offset the mortgage with the rest, or hold the entire compound as a long-term income asset. Outdoors is where the lot earns its size. A gated backyard shelters more than a dozen fruiting trees and vines, including avocado, orange, lemon, mandarin, kumquat, fig, peach, apple, persimmon, loquat, blackberry, and Thompson seedless and red grapes, creating a true farm-to-table setting, with bougainvillea spilling color across the courtyard and treetop outlooks. A repaved drive provides off-street parking, and the oversized lot offers ample room to garden, entertain, and expand. The setting is unrepeatable. The home sits in Edendale, the cradle of early Hollywood, just blocks from the former Allesandro Street studio row where Mack Sennett's Keystone Studios stood and a young Charlie Chaplin first created the Tramp in 1914. Baxter Street itself is the stuff of local legend, one of the steepest and most storied streets in Los Angeles. It is a legacy the neighborhood still carries, long a favorite of the working actors and creatives who have called Elysian Heights home. Beyond the history, daily life is all here. You are moments from the Silver Lake Reservoir, the trails of Elysian Park, and Dodger Stadium, with the shops, restaurants, and bars of Silver Lake, Atwater Village, and Mount Washington, one of the Eastside's trendiest dining scenes, all close at hand. Downtown and the freeways are minutes away, and a 91 Walk Score puts daily life on foot. A character-rich bungalow on an oversized walk-street lot, with built-in income, a working orchard, and a place in film history, rarely surfaces in one of Los Angeles' most coveted hillside neighborhoods.
Investment highlights
- A rare Elysian Heights income property
- Irreplaceable location
- Echo Park / Elysian Heights: Walk Score 91, downtown skyline views, tree-lined hillside streets, minutes to Silver Lake, Elysian Park, Dodger Stadium, and DTLA.
- Stabilized income, real upside
- Two 1BR/1BA units in place at $62,292/year; the studio is vacant and lease-ready at about $1,800/mo, lifting scheduled income to $86,400/year (+36%) with no RSO turnover wait.
- Owner-user or long-term hold
- SFR of record operated as a 3-unit income property for 23 years, ideal for a house-hacker who occupies a unit, or a cash buyer building an Eastside portfolio.
- Value-add optionality
- 7,407 SF lot with ADU / SB9 legalization potential (buyer to verify), a long-term path to add legal units and value.
- No retrofit obligation
- At 3 units, the building is exempt from LA's mandatory soft-story seismic retrofit ordinance.
- Character & grounds
- 1910 California bungalow, tastefully updated: refinished hardwood, updated kitchens and baths, and lush fruit-tree grounds (avocado, orange, peach, persimmon).
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