$1,550,000
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2616 Glendale BLVD Silver Lake, CA 90039
2,730 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,730 sqft
Price per Sqft $613
MLS Listing ID BB22057098
Year Built 1951
Annual Tax Amount $18,216
Lot Size 5,810 Sqft
Property Description
2616 Glendale Blvd is a rare, pride-of-ownership fourplex located in ultra-trendy Silver Lake! Just a quick walk to the Silver Lake Reservoir and the many neighborhood hotspots on Glendale Blvd, such as Whole Foods, Red Lion Tavern and Constellation Coffee! With such a premium, walkable location, this fourplex will attract high quality renters quickly! Inventory in A+ Silver Lake is low, making this an opportunity you?ll want to jump on right away! Also important to note is the potential for 1 or 2 ADU?s in the back, which would add tremendous value.
This charming property will be delivered with TWO units vacant at close of escrow, meaning this is a perfect opportunity for both owner occupiers and investors. Either A) live in one of the vacant units while having the tenants cover the mortgage or B) rent for top dollar and achieve an outstanding return. The current projected cap rate is close to 4% and the pro forma cap rate is a whopping 5.74%. Whether you plan to occupy or fully rent, you can?t go wrong either way! Additionally, the existing tenants are responsible and kind tenants who have always paid on time.
2616 Glendale Blvd is made up of four spacious 1b/1b units that are 682+ sq ft each. The property features a large private parking lot that sits behind a motorized security gate. The units boast spacious, open floorplans, plentiful windows letting in ample natural lighting, and real hardwood flooring! Another notable perk is that the property is situated in the Ivanhoe School District, which is considered one of the best elementary schools in LA!
In a market with fourplexes nearby going at $2,000,000+ and price per SF?s at $600-$1,000+, this is a rare opportunity to pin something down for an unheard of price of $1,550,000!
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LARD2
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Wood
Fireplaces Type None
Laundry Common Area
Exterior
Garage On Site, One Space
Pool None
Community Features Curbs, Street Lights, Sidewalks
View Y/N Yes
View Neighborhood
Building
Lot Description Near Public Transit, Yard
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
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Bought with Elizabeth Maddox • The 2-4 Unit Specialists