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1501 Westerly Ter 2 Unit Apartment Building $1,749,000 ($874,500/Unit) 5.04% Cap Rate Los Angeles, CA 90026
Investment Highlights
- Prime location near the Silver Lake Reservoir, Sunset Junction, dining, shopping, entertainment, and neighborhood amenities
- Approximately 2,142 SF building situated on a 4,876 SF lot.
- Two side-by-side residences, each featuring 2 bedrooms and 2 bathrooms across two levels
Executive Summary
Nestled in one of Silver Lake's most sought-after pockets, this beautifully restored 1920s Mediterranean duplex blends timeless character with thoughtful modern
updates. The side-by-side residences each span two levels and offer 2 bedrooms, 2 bathrooms, beautifully updated kitchens and bathrooms, central HVAC, in-unit laundry,
hardwood floors, recessed lighting, generous closet space, dedicated office nooks, and charming sunrooms with views of the surrounding hills and the city skyline.What
truly sets this property apart are its exceptional outdoor spaces. Each residence enjoys its own private outdoor area, while the fully fenced grounds provide an uncommon
sense of privacy and security, complete with exterior lighting and security cameras. Lush landscaping, mature succulents, vibrant plantings, and fruit trees create a tranquil
garden retreat equally suited for entertaining or everyday enjoyment. Adding even more versatility is an approximately 350-square-foot detached, partially converted garage
offering one-car parking with an EV charger, along with a flexible bonus space ideal for an art studio, music room, home gym, or office. An additional off-street parking
space is available in the driveway. Both residences are occupied by excellent month-to-month tenants paying market rents, generating a combined gross monthly income of
$10,550 ($5,800 and $4,750 per month). Current annual operating expenses for utilities and maintenance, including water, sewer, trash, and landscaping, are
approximately $7,700. With both leases on a month-to-month basis, the property offers exceptional flexibility for investors seeking immediate cash flow or owner-users
looking to occupy one residence while offsetting their mortgage with rental income. Ideally located just moments from the reservoir, Sunset Junction, Erewhon, acclaimed
restaurants, boutiques, and nightlife. This is a rare opportunity to own a beautifully restored duplex in one of Los Angeles' most vibrant and coveted neighborhoods.
updates. The side-by-side residences each span two levels and offer 2 bedrooms, 2 bathrooms, beautifully updated kitchens and bathrooms, central HVAC, in-unit laundry,
hardwood floors, recessed lighting, generous closet space, dedicated office nooks, and charming sunrooms with views of the surrounding hills and the city skyline.What
truly sets this property apart are its exceptional outdoor spaces. Each residence enjoys its own private outdoor area, while the fully fenced grounds provide an uncommon
sense of privacy and security, complete with exterior lighting and security cameras. Lush landscaping, mature succulents, vibrant plantings, and fruit trees create a tranquil
garden retreat equally suited for entertaining or everyday enjoyment. Adding even more versatility is an approximately 350-square-foot detached, partially converted garage
offering one-car parking with an EV charger, along with a flexible bonus space ideal for an art studio, music room, home gym, or office. An additional off-street parking
space is available in the driveway. Both residences are occupied by excellent month-to-month tenants paying market rents, generating a combined gross monthly income of
$10,550 ($5,800 and $4,750 per month). Current annual operating expenses for utilities and maintenance, including water, sewer, trash, and landscaping, are
approximately $7,700. With both leases on a month-to-month basis, the property offers exceptional flexibility for investors seeking immediate cash flow or owner-users
looking to occupy one residence while offsetting their mortgage with rental income. Ideally located just moments from the reservoir, Sunset Junction, Erewhon, acclaimed
restaurants, boutiques, and nightlife. This is a rare opportunity to own a beautifully restored duplex in one of Los Angeles' most vibrant and coveted neighborhoods.
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Sunroom
- Walk-In Closets
- Yard
- Dining Room
- Family Room
- Garden
- Office
- Patio
- Porch
- Quartz Countertops
Site Amenities
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Tenant Controlled HVAC
- Grill
- Gas Range
- Storage Space
- Zen Garden
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $5,800 | 1,071 |
| 2+1.5 | 1 | $4,750 | 1,071 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5425-011-030 | Improvements Assessment | $363,080 |
| Land Assessment | $1,153,055 | Total Assessment | $1,516,135 |
Property Taxes
Parcel Number
5425-011-030
Land Assessment
$1,153,055
Improvements Assessment
$363,080
Total Assessment
$1,516,135
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