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

Bedrooms

3

Building size

1,966 sqft

Lot size

5,560 sqft

Year built

1936

Stories

2

Garage spaces

1

Style

Spanish

Heating

Fireplace(s),Wall Furnace

Pool

None

View

Trees/Woods,Canyon

Status

Active

Days on market

39

MLS #

246215427

About this property

$100,000 REDUCTION: Hi, I'm 2338, 2338 & 2340 Lake View Drive, a 1936 Spanish garden compound tucked into the hills of Silver Lake. Yes, I'm technically three separate residences. I prefer to think of myself as an exceptionally charming little real estate empire with better landscaping. My setup includes a 2-bedroom main residence with a separate office and 2-car garage used as a social cave, a spacious 1-bedroom residence, and a garden studio, all arranged across a lush, terraced lot with privacy, personality and with tree and city views. Each residence has its own character, along with arched entries, wood, wood-laminate, carpet and tile flooring, thoughtful lighting, kitchens with updated appliances, bathrooms with showers and/or tubs, and laundry available on the property. I've also had some serious work done and not the kind involving a suspiciously flattering profile picture. Improvements include new kitchen appliances throughout, tankless water heaters, extensive plumbing upgrades, a new sewer line and main water line, replacement piping, significant electrical updating, new exterior stairs, newer windows, soundproofing improvements, bathroom tile upgrades, a newer asphalt-shingle roof at the main residence, and a rebuilt chimney. There are also three separate gas meters and three separate electrical meters, making life considerably easier for an income-producing property. Outside, I'm where things get especially good. A small, cozy front yard and deck welcome you in, while terraced back gardens create multiple outdoor spaces for relaxing, entertaining or pretending you've finally mastered gardening. From various points around the property, you'll catch views across the city and surrounding hills. And then there's Silver Lake. I'm close to the neighborhood's restaurants, cafes, shops, creative energy, outdoor recreation and the Silver Lake Reservoir area near enough to enjoy the action while still feeling tucked away when you come home. For an investor, I arrive with another attractive feature: all residences are currently leased to excellent tenants, who are paying their individual utilities other than owner-paid water and landscaping. Historically, vacancies have been rare and the residences have rented quickly when available. No cash for keys conversations have been had with the tenants, FYI. All in all, I'm a unique opportunity to own a character-rich, multi-residence Silver Lake compound offering income, flexibility and substantial recent improvements, all wrapped in classic 1930s Los Angeles charm. I'm being priced competitively with multiple offers in mind, and first showings will take place at the open houses. Opportunities like me tend not to sit around admiring their own city views, so don't assume I'll last long. Come see me in person, attend the upcoming Open House, or contact the listing team for additional information. I clean up pretty well.

Location

2338 Lake View Avenue

Los Angeles, Los Angeles, CA, 90039