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1217 Westerly Ter
Los Angeles, CA 90026
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Prime Silver Lake Location - Minutes Away from Sunset Junction
- SB721 Cleared
- No Units have Shared Walls - Each Unit is at a Different Elevation
- Fourplex - 75% Two-Bedroom Units and Will Be Delivered 50% Vacant
- Vacant One-Bedroom Renovated Recently with Modern Finishes and Stainless Steel Appliances
- Bonus ~400 SF Vacant Room in the Rear - Possible ADU Conversion
Executive Summary
Marcus and Millichap is pleased to present a four (4) unit apartment building located at 1217 Westerly Terrace in Los Angeles, California. The subject property is located in a prime Silver Lake location, just north of Sunset Blvd and east of Silver Lake Blvd.
Located in prime Silver Lake just minutes from Sunset Junction, this fourplex features a desirable unit mix of 75% two-bedroom units and offers approximately 25% rental upside. The property is delivered 50% vacant, including a recently remodeled one-bedroom unit with hardwood floors, stainless steel appliances, and modern finishes. Select units offer views of Sunset Blvd and have the convenience of washer and dryer hookups. A rear vacant room and existing garage present strong ADU conversion potential. The property also qualifies for an attractive 30-year residential financing. Positioned in the heart of Silver Lake, this property benefits from a highly sought-after location surrounded by top-tier dining, retail, and lifestyle amenities.
With significant vacancies, incredible views, a desirable two bedroom-heavy unit mix, and multiple opportunities for ADU conversions, this offering presents a compelling value-add investment in one of Silver Lake’s most sought-after locations.
For OM, please visit: https://www.lamultifamilydeals.com/properties/1217-westerly-ter
Located in prime Silver Lake just minutes from Sunset Junction, this fourplex features a desirable unit mix of 75% two-bedroom units and offers approximately 25% rental upside. The property is delivered 50% vacant, including a recently remodeled one-bedroom unit with hardwood floors, stainless steel appliances, and modern finishes. Select units offer views of Sunset Blvd and have the convenience of washer and dryer hookups. A rear vacant room and existing garage present strong ADU conversion potential. The property also qualifies for an attractive 30-year residential financing. Positioned in the heart of Silver Lake, this property benefits from a highly sought-after location surrounded by top-tier dining, retail, and lifestyle amenities.
With significant vacancies, incredible views, a desirable two bedroom-heavy unit mix, and multiple opportunities for ADU conversions, this offering presents a compelling value-add investment in one of Silver Lake’s most sought-after locations.
For OM, please visit: https://www.lamultifamilydeals.com/properties/1217-westerly-ter
Property Facts
| Price Per Unit | $423,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 5.48% | Building Size | 4,043 SF |
| Gross Rent Multiplier | 13.29 | Average Occupancy | 50% |
| No. Units | 4 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | ||
| Zoning | LAR2 - Residential | ||
| Price Per Unit | $423,750 |
| Sale Type | Investment |
| Cap Rate | 5.48% |
| Gross Rent Multiplier | 13.29 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,043 SF |
| Average Occupancy | 50% |
| No. Stories | 5 |
| Year Built | 1967 |
| Zoning | LAR2 - Residential |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 3 | - | - |
Property Taxes
| Parcel Number | 5426-003-004 | Improvements Assessment | $406,771 |
| Land Assessment | $1,024,044 | Total Assessment | $1,430,815 |
Property Taxes
Parcel Number
5426-003-004
Land Assessment
$1,024,044
Improvements Assessment
$406,771
Total Assessment
$1,430,815
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