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3315 Larissa Dr, Los Angeles, CA 90026

$2,850,000

Description

Proudly presenting this trophy 8 unit Silverlake listing at 3315 Larissa Drive, LA 90026. 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.

Investment Highlights:
● 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

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Address

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on July 22, 2019 at 3:55 pm

  • Price: $2,850,000
  • Property Size: 7,014 Sq Ft
  • Land Area: 6,168 Sq Ft
  • Year Built: 1925
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 8
  • GRM: 17.70
  • CAP RATE: 5.07%
  • Market GRM: 13.40
  • Market CAP RATE: 5.07%

Contact info

Matt Dunfrund
Matt Dunfrund
(424) 330-2015(310) 367-9666
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