New Listing – 6-Unit Apartment in Silverlake
Matt Dunfrund of Lyon | Stahl Investment Real Estate is pleased to present an intriguing new 6 unit Silverlake listing located at 1353 Edgecliffe Dr, Los Angeles.
At our $2,399,000 asking price, the property is priced at: $342,714/unit; a 18.46 current GRM; a 14.54 market GRM; a 3.14% current CAP; a 4.56% market CAP, and $551/SF.
Featuring a great unit mix with four 2+1 units & two 1+1 units. The current gross income is approx. $10,830/mth; $129,960/yr with rent upside to $13,600/mth proforma.
This turnkey Edgecliffe property offers the astute investor positive cash flow from Day 1 with approx. 27% additional rent upside potential.
A+ location with stairs directly down to all Sunset Blvd’s entertainment & an easy walk to a ton of great restaurants/shops/cafes including: Millie’s Cafe; Cliff’s Edge; Pine & Crane, The Black Cat; Intelligentsia Coffee; El Cid; and Flore Vegan to name a few. Also conveniently located close to Micheltorena Elementary School & Lockwood Avenue Elementary.
● Well-maintained 6 unit Silverlake property in excellent location
● Solid in-place income of $10,830/month; $129,960/year with approx. 27% rent upside still
● Great unit mix with four 2+1 units & two 1+1 units with 4,351 total rentable sq. ft. on a large 7,355sf lot
● 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.