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3121 Silver Lake Blvd 4 Unit Apartment Building $1,950,000 ($487,500/Unit) 4.61% Cap Rate Los Angeles, CA 90039
INVESTMENT HIGHLIGHTS
- It is in a great Atwater location and is a very nice property with plenty of neighborhood parking.
- Conveniently located within a couple blocks of Atwater Village Farmer's Market!
EXECUTIVE SUMMARY
Don't miss this four unit Atwater multi-family gem located at 3121 Silver Lake Blvd. This property consist of four fully remodeled 1 bed, 1 bath units. Three of which are rented with one recent vacancy for a possibly owner to live in. All 4 have been remodeled and rent very quickly. Additionally, per a builder, you can create 2 ADU's! You may make two additional studios with the 4 garages or make one big unit. Conservatively, if you make one unit with the garages, you could get you another approximate $2,200 and you would still be able to build another ADU on the property. Current gross income is approximately $9,400 a month. That will bring you to a total of $11,600/mo once just the garage ADU is completed. It is in a great Atwater location and is a very nice property with plenty of neighborhood parking conveniently located within a couple blocks of Atwater Village Farmer's Market!
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $487,500 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 2,007 SF |
| Cap Rate | 4.61% | Average Occupancy | 75% |
| Gross Rent Multiplier | 17.72 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1929/2020 |
| Property Type | Multifamily | Parking Ratio | 1.99/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAR1 - One Family Residential | ||
| Price | $1,950,000 |
| Price Per Unit | $487,500 |
| Sale Type | Investment |
| Cap Rate | 4.61% |
| Gross Rent Multiplier | 17.72 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,007 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built/Renovated | 1929/2020 |
| Parking Ratio | 1.99/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR1 - One Family Residential |
AMENITIES
UNIT AMENITIES
- Balcony
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $2,500 | 500 - 507 |
1 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 5437-004-042 | Total Assessment | $811,242 (2025) |
| Land Assessment | $557,078 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $254,164 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5437-004-042
Land Assessment
$557,078 (2025)
Improvements Assessment
$254,164 (2025)
Total Assessment
$811,242 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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Presented by
Starlight Partners
3121 Silver Lake Blvd
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