18 unit low rise garden style apartment building for sale with tremendous upside of 53% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd.… Read More The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18,936/mo ($227,236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase gets to a 4.8 cap & 13.5 GRM. Proforma rents indicate $29,000/mo or ($348,000/yr) at 8.3 cap & 9.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more. Soft story retrofit completed in 2019. Read Less
Property listed by Keller Williams Downtown LA, Aram Gaboudian 213-797-7000
Listing Snapshot
Days Online
141
Last Updated
Property Type
Other
Square Ft.
10,218
Lot Size
0.28 Acres
Year Built
1949
MLS Number
24406887
30 Days Snapshot Of 90057
$524k
-28%
(avg) sold price
2
-33%
homes sold
40
-44%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Disposal
Building
Built in 1949, Building area total: 10,218, Levels: Two, Living area: 10218, 2 stories, 1 building
Heating
WallFurnace
Income
Gross income: $236,325, Net operating income: $154,544
Lot
0.2811 acres, 12,243 square feet, Size: 12,243
Parking
13 totals parking, Carport, OneSpace, Uncovered
Property
Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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