FULLY VACANT TRIPLEX at the crossroads of Silver Lake and Historic Filipino Town. A truly unique opportunity that will provide cashflow from day one, or a fantastic owner/user residence to sit back and enjoy while you build equity. Every unit of this 1920's craftsman has been updated and is ready for full market-rate rental income. Three one bedroom units feature new or newer appliances, expansive cabinet space, and updated baths with subway tile and quartz counters. Petite porches, separate entrances, and the ability for each unit to have its own designated outdoor space adds to the feeling of privacy. A large gated front yard could easily be divided for the individual use of both front units, while a large back patio with a centerpiece lemon tree has enough room for entertaining, lounging and developing your green thumb. Two of the units have direct access to the back patio, while one features a skyline view of downtown. Recently reconverted from a duplex back to a triplex, everything has been permitted and signed off on by the City, making this a worry-free investment property for the ages. A gated rear parking pad has room for three cars in addition to a one car garage that could be great for storage, or as value-add for one of the units. This property is a great addition to any portfolio, or an excellent way to dip your toe into the world of income property. Estimated 6% Cap Rate or 24% Cash over Cash Return (based on 25% down payment). Any way you slice it, this property pencils out.
|
DAYS ON MARKET
|
14
|
LAST UPDATED
|
10/24/2024
|
|
YEAR BUILT
|
1921
|
COMMUNITY
|
Silver Lake - Echo Park
|
|
GARAGE SPACES
|
1.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| School District |
Los Angeles Unified |
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Dishwasher, Dryer, Refrigerator, Washer |
| AREA |
Silver Lake - Echo Park |
| GARAGE |
Door-Single, Garage, Gated, Private, Side by Side, Uncovered, Yes |
| HEAT |
Central |
| LOT |
4501 sq ft |
| PARKING |
Door-Single,Garage,Gated,Private,Side By Side,Uncovered |
| STORIES |
1 |
| VIEW |
Yes |
| VIEW DESCRIPTION |
City Lights |
| ZONING |
LAR3 |
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Listed with Sotheby's International Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 6:26 PM PDT 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
This IDX solution is (c) Diverse Solutions 2024.
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