Reservoir Partners presents an intimate 4-unit TIC community in coveted Virgil Village. Blocks from Sqrl, Roam, Paper 8, Melody and all that the Village has to offer. Centrally located between Silverlake and Hollywood.
The units have been re-envisioned with bright new windows, open layouts, totally renovated, recessed lighting, designer light fixtures and hardware. No details were spared with this timeless look, rooted in raw nature with wide plank, white oak hardwood floors, butcher block countertops and shelves and terra cotta tiles.
The property was updated with newer electrical, plumbing, foundation and brand new roofs in 2020.
4437 Lockwood - Front Bungalow
4437 1/2 Lockwood - Middle Bungalow
4439 Lockwood - Lower Rear Unit
4439 1/2 Lockwood - Upper Rear Unit
HOA dues cover water, insurance, finance management
HOA owners are responsible for common area maintenance (each co-owner's portion is based on their square footage)
Owner pays for their unit gas and electric (each unit is individually metered for gas and electric)
Insurance covers the entire property, including walls-in
Pets are allowed
No rental restrictions apply, other than standard city rent control (RSO)
No permission needed to sell your unit
With TIC you have similar usage and renovation rights as a condo owner
This property is known as a (T.I.C) Tenancy in common. This allows two or more people to hold the title to a property. Each tenant has their own loan, and shares of the property, but the entire property is owned by all tenants, and property taxes are split. This is great for first time buyers and those with small down payment amounts.