Presenting a clean 4 unit architecturally interesting opportunity. This well located Silverlake property features three 2 + 1 Units and one 1 + 1 with 4,043 total square feet of living space on a 5,061 square foot lot. Each two bedroom unit, including a lovely top story penthouse, boasts extraordinarily spacious private balconies, great light and spectacular elevated views of the city. Two storage areas provide added value as well as a third space that might be possible to make into a 5th unit (no guarantee implied). This value-add property is very solid at: $7,078/month; $84,936/year. At the $1,449,000 asking price, the property is: $362,500/Unit; a 17.01 current GRM; a 3.93% current CAP; and $359/SF, and a pro forma cap rate of 5.5%. Rents are 35% below market value with real upside and units have capacity to be improved. Perfect for long term investors. Walking distance to Sunset Junction, restaurants, schools, shops and the recently uplifted Reservoir parks and trails.
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