Just Listed – 8-Units in Silverlake
Matt Dunfrund is proud to present this trophy 8-unit Silverlake listing at 3315 Larissa Dr, Los Angeles!
Featuring a great unit mix with: one 3+2 unit; three 2+1 units, and four 1+1 units (one unit is potentially non-conforming so buyer to verify w City & satisfy themselves). The current gross income is approx. $13,890/mth; $166,680/yr. At the $2,950,000 asking price, the property is priced at:$421,429/unit; a 17.70 current GRM; a 13.40 market GRM; a 3.31% current CAP; a 5.07% market CAP, and $421/SF.
This unique Larissa property offers the astute investor positive cash flow from Day 1 with fantastic further rent upside in one of LA’s most sought after & most rapidly appreciating submarkets.
A+ location steps from Sunset Blvd & an easy walk to a ton of great restaurants/shops/cafes including: Night+Market Song; Ali Mama Cafe; Hache; Alfred Coffee; Trois Familia; Mollusk Surf Shop; and APC. Also very conveniently located close to Micheltorena Elementary School. This Larissa property is a part of a 25 unit four apartment Silverlake portfolio sale so please inquire today for more details before this unique offering is gone.
● Trophy 8 unit Silverlake property located on a quiet residential street & only steps from Sunset Blvd
● Solid unit mix with one 3+2 unit; three 2+1 units & four 1+1 units, and all units are good sized with 7,014 total rentable sq. ft.
● Great in-place income of $13,890/month; $166,680/year with achievable rent upside
● Part of a four property Silverlake portfolio; available for sale individually or as a 25 unit portfolio
● Historically high occupancy rates.
● Dramatic net absorption during recoveries.
● Extremely limited numbers of large blocks of available space.
● Significant increases in rental rates in strong economic times.