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3376 Descanso Dr, Los Angeles, CA 90026

$2,200,000

Description

Presenting a well-maintained 7 unit Silverlake listing at 3376 Descanso Drive, LA 90026. Featuring a solid unit mix with a recently remodeled 1+2 Townhome; four 1+1 units, and two studio units. The current gross income is $10,339/mth; $124,068/yr with rent upside to $13,625/mth. At the $2.2M asking price, the property is priced at: $314,286/unit; a 17.73 current GRM; a 13.46 market GRM; a 3.56% current CAP; a 5.30% market CAP, and $558/SF. This Descanso property offers the astute investor positive cash flow from Day 1 with approx. 30% further rent upside in one of LA’s hippest & most desirable submarkets. A+ location with breathtaking views of the Hollywood Sign; Griffith Park Observatory & the ever growing Downtown LA skyline from the upper units. Amazing devoted stairway straight down to Sunset Blvd making it a quick walk to a ton of great local spots including: Night+Market Song; Diablo; Los Globos; Silverlake Ramen; WOOD; Silverlake Lounge; Ali Mama Cafe, and Alfred Coffee. Also very conveniently located close to Bellevue Recreation Center & Laurel and Hardy Park for outdoor activities.

Investment Highlights:
● Clean 7 unit apartment in A+ location on quiet primarily residential street with amazing views of the Hollywood sign; Griffith Observatory & Downtown LA’s skyline
● Good unit mix with a totally remodeled 1 Bedroom 2 Bath Townhome; four 1+1 units & two Studio units with 3,946 total rentable sq. ft.
● Solid in-place income of $10,339/month; $124,068/year
● 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 June 3, 2019 at 11:29 pm

  • Price: $2,200,000
  • Property Size: 3,946 Sq Ft
  • Land Area: 5,274 Sq Ft
  • Year Built: 1964
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 7
  • GRM: 17.73
  • CAP RATE: 3.56%
  • Market GRM: 13.46
  • Market CAP RATE: 5.30%

Contact info

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