Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

6

Building size

4,180 sqft

Lot size

5,811 sqft

Year built

1951

Stories

2

Garage spaces

0

Cooling

Heat Pump,Ductless

Pool

None

Status

Active

Days on market

0

MLS #

244377452

About this property

2618 and 2616 Glendale Blvd are opportunity to acquire a stabilized six-unit multifamily asset in the heart of Silver Lake, ideal for 1031 exchange and cash-flow investors. 4 -2 bed units and 2 - 1 bed units. The property features four units in the front building and two newly constructed ADUs in the rear, completed in 2024. Two of the front units have been renovated with new cabinetry, updated flooring, and in-unit laundry, while the rear ADUs offer modern layouts and low-maintenance new construction. Gas and electricity are fully separately metered, water is separately metered for the ADUs, and the front building water can be possibly implemented via RUBS, creating strong operational efficiency and improved NOI. Located along Glendale Boulevard near Whole Foods, popular restaurants, and coffee shops, this Silver Lake location benefits from consistently high rental demand and proximity to Ivanhoe Elementary School and John Marshall High School. The property has been well maintained by ownership and offers strong in-place income with long-term upside in one of Los Angeles' most sought-after rental markets. Upside potential is renovating the remaining two units into 2 bedrooms from 1 bedroom.

Location

2618 Glendale

Los Angeles, Los Angeles, CA, 90039