1353 Edgecliffe Dr #1, Los Angeles, CA 90026

1353 Edgecliffe Dr #1, Los Angeles, CA 90026

Los Angeles, CA

Property Description

Presenting an intriguing new 6 unit Silverlake listing at 1353 Edgecliffe Drive, LA 90026. 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. 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. 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.

<strong>Investment Highlights:</strong>
● 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 &amp; 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

Property Features

  • Sale Price: $2,120,000
  • Area Size: 4,351 SF
  • Land Area: 7,355 SF
  • Year Built: 1959
  • Closing Date: 3/3/2020
  • Units: 6
  • Current GRM: 18.46
  • Current Cap Rate: 3.14%
  • Market GRM: 14.54
  • Market Cap Rate: 4.56%

Lyon Stahl Investment Real Estate

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