KW Commercial is pleased to present 3209 Descanso Drive, a 16 unit apartment community in L.A.’s most compelling rental market, Silver Lake, CA (90026). The offering, built in 1928, is less than one block from the iconic Sunset Blvd., and mere steps away from nearby entertainment venues.
The asset’s vibrant atmosphere reflects the energy of the local community with a unit mix which is perfectly positioned to attract the area’s discerning Gen-Y demographic and consists of Nine (9) Singles and Seven (7) One Bedroom-One Bathroom apartment homes.
The current ownership has executed an impressive renovation strategy that has attracted and supported excellent market rents with well qualified residents for the newly renovated apartment homes. Eight (8) of the sixteen (16) apartment homes (50% of units) feature reimagined interiors with expanded doorways / inner spaces, gut-level renovated baths and kitchens, new gleaming wood floors, new doors, lighting, locks, and hardware.
The common and exterior spaces have updated and are highlighted by new flooring, lighting, laundry facilities, stairwells, and public outdoor spaces. The exterior has been transformed with new color patterns, awnings and drought resistant landscaping.
The roof has recently been upgraded with a cool roof system and the foundation has recently been retrofitted.
3209 Descanso Drive also features a vacant +/-2,250 SF flex space (partially improved) on the main level with private entry that has the potential to be realized as an additional amenity package / profit center thus creating an additional value-add opportunity.
Silver Lake is as diverse as the people living in it. Its home to many artists, writers, and musicians, like Beck and Moby (who owns a SL vegan restaurant - Little Pine), just to name a few. Thanks to its neighborhood feel, Silver Lake is the perfect area for young people looking for a dynamic location and young families seeking out good schools and a community vibe. Silver Lake is continually growing — with an ever-increasing mix of stylish boutiques, restaurants, bars, coffee shops, and everything in between.
