2313 Glendale Boulevard,Los Angeles, CA 90039
Los Angeles, CA 90039
Description
*6.25% 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.
Details
| MLS # | SR26141627 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1923 |
| Days On Site | 70 |
| Listing Provided By | Keller Williams VIP Properties | David Sevanian |
Features
| SQ Feet | 3,954 |
|---|---|
| Garage | 5 |
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 3 |
| Acreage | 0.17 |
Interior
| Fireplace Yes / No | Yes |
|---|
Exterior
| Lot Features | Front Yard, Garden, Near Public Transit |
|---|
Parking
| Parking Features | Assigned |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Lake, Mountainous, Park, Storm Drains, Street Lights, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90039 |
| Area | C21 Silver Lake Echo Park |
| Listing VS Median (in 90039) | |
Price: $1,650,000 low | high Med: $1,699,500 sqft: 3,954 low | high Med: 2,777 $ / sqft: $417 low | high Med: $755 On site: 70 low | high Med: 70 | |
Market Activity 90039
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90039 |
| Area | C21 Silver Lake Echo Park |
| Listing VS Median (in 90039) | |
Price: $1,650,000 low | high Med: $1,699,500 sqft: 3,954 low | high Med: 2,777 $ / sqft: $417 low | high Med: $755 On site: 70 low | high Med: 70 | |
