Duplex In Silverlake | 50% Vacant 422 Parkman Ave 2 Unit Apartment Building $1,550,000 ($775,000/Unit) 4.60% Cap Rate Los Angeles, CA 90026

422 Parkman Ave presents a well-located duplex opportunity in one of Los Angeles’ most desirable rental markets. The property consists of two spacious 3-bedroom, 2-bath units totaling approximately 2,548 SF of rentable space on a 5,459 SF lot. Built in 1996, the property is not subject to Los Angeles City Rent Control and is instead governed by AB 1482 statewide rent control regulations.
The upstairs unit is currently vacant and has been recently renovated, creating an ideal opportunity for an owner-user to occupy one unit while generating income from the other. The unit features high ceilings, abundant natural light, and in-unit laundry, offering a comfortable and functional living environment. The lower unit provides stable in-place income with future rental upside.
The property also includes a rear parking area with multiple spaces, providing convenient off-street parking for tenants. With strong existing income and the potential to achieve market rents over time, 422 Parkman Ave offers both immediate cash flow and long-term upside.
Currently operating at a 4.60% CAP rate and 14.88 GRM on current income, with a projected 5.59% market CAP rate and 12.92 market GRM, the property represents an attractive investment opportunity in Silver Lake, a high-demand rental submarket with strong tenant appeal and convenient access to major employment hubs across Los Angeles.