NOT LISTED FOR SALE
5 Beds
5 Baths
2,677 Sq Ft
6,463 Sq Ft Lot

Last Sold October 11, 2024

Last sale price $1,200,000 $448 Per Sq Ft

14 Days on Market

About This Home

As of October 2024

We are pleased to present a unique investment opportunity: a 5-unit multi-family property located in the heart of Silver Lake, just steps from the iconic Sunset Blvd and Sunset Junction. This property offers investors strong returns with significant upside potential. Built in 1924/1923, the property features three single-story detached buildings. The total square footage is approximately 2,677, situated on a 6,461 SF lot. Located in a residentially zoned area with permit street parking for residents (Buyer to Verify), the property also offers tenants (4) Garage parking spaces. One unit will be delivered vacant. For the savvy investor, there is substantial value-add potential, including the possibility of adding one ADU unit, with an estimated upside of approximately 51% (buyer to verify feasibility). The property is zoned RD2-1VL.Strategically positioned in the vibrant core of Silver Lake with a walk score of 94 ("Walker's Paradise"),tenants will enjoy close proximity to premier retail corridors on Sunset Blvd, as well as convenient access Hollywood & Los Feliz. **Disclosure:** Buyers are advised to conduct thorough due diligence, including verification of building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, soft-story compliance, and the feasibility of constructing ADUs or additional units.**DO NOT DISTURB TENANTS OR WALK ON PROPERTY-DRIVE BY ONLY**

Last Agent to Sell the Property

Eric Dilanian

Remax Commercial and Investment Realty License #01951699 Listed on: 09/12/2024

Remax Commercial and Investment Realty

Last Buyer's Agent

Arthur Chalekian

Equity Union License #01982432

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 6,463 Sq Ft Lot

Interior Spaces

  • 2,677 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Parking

  • 4 Car Garage
  • On-Street Parking

Listing and Financial Details

  • Assessor Parcel Number 5429-013-018

Community Details

Overview

  • 3 Buildings
  • 5 Units

Building Details

  • Rent Control

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 2677
  • Lot Acreage: 0.1484
  • Year Built: 1923
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 5
  • Total Bathrooms: 5.00
  • Price Per S Q F T: 429.59

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Parking Garage: Garage, On street
  • Total Parking: 4

Lot Info

  • Assessed Improvement Percent: 25.00
  • Assessed Improvement Value: 56280
  • Assessed Land Percent: 75
  • Assessed Land Value: 168876
  • Total Assessed Value: 225156
  • Assessor Parcel Number: 5429-013-018
  • Lot Size Area: 6463

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106
  • Number Of Units: 5
  • Rent Control: 100
  • Type Of Units: Apartments

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/11/2024 10/11/24 Sold $1,200,000 +4.3% $448 / Sq Ft
09/26/2024 09/26/24 Pending -- -- --
09/12/2024 09/12/24 For Sale $1,150,000 -- $430 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 24-438581

The MLS