Duplex In Silverlake | 50% Vacant 422 Parkman Ave 2 Unit Apartment Building $1,435,000 ($717,500/Unit) 5.19% Cap Rate Los Angeles, CA 90026

Situated on a quiet cul-de-sac in Silver Lake, 422 Parkman Ave presents a well-located duplex opportunity in one of Los Angeles’ most sought-after rental markets. The property consists of two spacious 3-bedroom / 2-bath units totaling approximately 2,548 square feet of rentable space on a 5,459 square foot lot. It was built in 1996 so it is not subject to LA City Rent Control, it is only subject to AB 1482 statewide rent control.
The upstairs unit is currently vacant and has been newly renovated, creating an excellent 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, providing a comfortable and functional living environment. The lower unit provides stable in-place income with additional rental upside over time.
The property includes a rear parking area with multiple spaces, offering convenient off-street parking for tenants. With strong existing income and the potential to capture market rents, the property presents both immediate cash flow and long-term value growth.
Currently offering a 5.19% CAP rate and 13.49 GRM on current income, with a projected 6.11% market CAP and 11.96 market GRM, 422 Parkman Ave represents an attractive investment opportunity in a high-demand Silver Lake submarket known for its strong renter demand and proximity to major employment centers throughout Los Angeles.