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$ 1,725,000
Est. payment | /mo
7,379 Sqft Lot
$ 1,725,000
Est. payment | /mo
7,379 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26141622
HOA Y/N No
Year Built 1923
Lot Size 7,379 Sqft
Property Sub-Type Multi Family
Property Description
*7.5% CAP RATE!!! Discover an exceptional investment & development opportunity in the heart of Silver Lake with this rare SIX-UNIT income property ideally positioned just moments from the Silver Lake Reservoir, meadow trails, dog park, and some of Los Angeles' most sought-after dining, shopping, and entertainment destinations. Located on a lush, oversized lot surrounded by mature avocado, fig, and lime trees, this property offers a unique blend of strong in-place cash flow, long-term appreciation potential, and future development upside in one of LA's most desirable rental markets. The property currently generates approximately $12,929 per month ($155,148 annually) in gross rental income and features six separately metered units, simplifying management and maximizing operational efficiency. Recent improvements include dual-pane energy-efficient windows throughout, while seven on-site parking spaces—five covered carports and two additional uncovered spaces—provide a highly desirable amenity rarely found in such a prime urban location. The upper rear unit enjoys pocket views of the Silver Lake Reservoir area and the iconic Griffith Observatory, further enhancing tenant appeal. ZONED R3, this property presents a compelling opportunity for investors seeking both immediate income and future value creation. Preliminary development potential may allow for the addition of up to six more units, creating the possibility of expanding the property to a 12-unit asset (buyer to independently verify all development potential with applicable governmental agencies). Whether held as a long-term income-producing investment, repositioned for increased rents, or explored as a future development project, the possibilities are significant. The location is truly outstanding. Enjoy convenient access to Downtown Los Angeles, Dodger Stadium, Griffith Park, and the very best of Silver Lake's renowned lifestyle amenities, including Whole Foods, Gelson's, Trader Joe's, Silverlake Wine, and the legendary Red Lion Tavern. Opportunities to acquire a cash-flowing six-unit property with meaningful development potential in Silver Lake are increasingly rare. This is a chance to secure a premier asset in one of Southern California's most dynamic and supply-constrained neighborhoods. Schedule your private showing today and explore the possibilities this unique property has to offer.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Interior
Fireplace No
Laundry Inside
Exterior
Carport Spaces 5
Total Parking Spaces 7
Building
Lot Description Front Yard, Garden, Near Public Transit
Story 2
Water Public
Others
Tax ID 5439001014
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Virtual Tour https://www.dropbox.com/scl/fi/2dn30t0rhcrhgt2ohm3zr/2313-Glendale-Blvd-Los-Angeles-CA-90039-USA.mp4?rlkey=hddsw8hgeqcb25drf8zvojkb3&dl=0
Listed by David Sevanian Keller Williams VIP Properties 661-510-6072, DRE #01275548
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