Property Details

Price $3,335,000 (combined)

Year Built 1924

# of Units 8 (combined)

Price P/ Unit $416,875

Sq. ft. 7,128 SF (combined)

Price p/ Sq. ft. $468

Current Cap Rate 4.22%

Proforma Cap Rate 5.40%

Lot Size 15,026 SF (combined)

Zoning LARD2

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About the Property

659 & 663 Imogen Avenue, two well-maintained side-by-side fourplexes in Silver Lake, just South of Sunset Boulevard. Located in a top rental market attracting families and young professionals holding high-income positions in creative industries. Comprised of (8) spacious 1-bdrm.  and 1-bath units (averaging approx. 890 SF) sitting on 15,026 SF of land zoned LARD2. Each bright and spacious unit features hardwood flooring, an in-unit washer and dryer and plenty of storage. Property amenities include automatic and gated entry, shared front yard,  large communal outdoor area, 8 tandem parking spaces, and each unit is separately metered for gas and electricity. Value-add opportunity, ability to add ADUs, and rents are approx. 23% below market rate compared to renovated units in the area.

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