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$200k Reduction - 8 Huge Units in Silver Lake 957 Vendome St 8 Unit Apartment Building $3,050,000 ($381,250/Unit) Los Angeles, CA 90026
INVESTMENT HIGHLIGHTS
- Built in 1924, 957 Vendome Street is a unique and special investment opportunity on one of the best streets in Silver Lake.
- 3 of 8 units have seen top-to-bottom remodels: reimagined living rooms & kitchens, new flooring, new modern lighting, updated kitchens & bathrooms.
- Large spacious unit at +/- 1,100 SF each) and excellent unit composition. All Two & Three Bedroom Units.
- Opportunity to nearly double (2X) existing rents. Five of eight units are not turned.
EXECUTIVE SUMMARY
JUST REDUCED $200,000 - Built in 1924, 957 Vendome Street is a unique and special investment opportunity on one of the best streets in Silver Lake. The asset boasts eight (8) large, spacious units at +/- 1,100 SF each) and an excellent unit composition. All Two & Three-Bedroom Units. Three of the Eight units have seen top-to-bottom remodels, featuring reimagined living rooms and kitchens, new flooring, modern lighting, updated kitchens and bathrooms, in-unit washers/dryers, and new stainless-steel appliances. Opportunity to nearly double (2X) existing rents. Steps from the iconic Silver Lake Blvd, 957 Vendome Street provides easy access to many of the hippest dining and shopping destinations that make Silver Lake so famous. There is a significant affordability gap in homeownership in the Silver Lake sub-market. As the median home price in the 90026 Zip Code is approximately $1,215,452, a typical monthly mortgage payment is 1.5 - 2 times more than the average renovated rent at 957 Vendome Street.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$184,506
|
$21.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,690
|
$0.43
|
| Effective Gross Income |
$180,816
|
$21.05
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$60,910
|
$7.09
|
| Net Operating Income |
$119,906
|
$13.96
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $184,506 |
| Annual Per SF | $21.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,690 |
| Annual Per SF | $0.43 |
| Effective Gross Income | |
|---|---|
| Annual | $180,816 |
| Annual Per SF | $21.05 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $60,910 |
| Annual Per SF | $7.09 |
| Net Operating Income | |
|---|---|
| Annual | $119,906 |
| Annual Per SF | $13.96 |
PROPERTY FACTS
| Price | $3,050,000 | Building Class | C |
| Price Per Unit | $381,250 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 8,588 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1924/2022 |
| Apartment Style | Low-Rise | ||
| Zoning | LAR2 | ||
| Price | $3,050,000 |
| Price Per Unit | $381,250 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,588 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1924/2022 |
| Zoning | LAR2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Disposal
- Heating
SITE AMENITIES
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 3 | - | - |
| 3+1 | 2 | - | - |
| 2+2 | 1 | - | - |
| 2+1 | 2 | - | - |
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Walk Score®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 5426-016-011 | Improvements Assessment | $1,398,388 (2025) |
| Land Assessment | $1,479,176 (2025) | Total Assessment | $2,877,564 (2025) |
PROPERTY TAXES
Parcel Number
5426-016-011
Land Assessment
$1,479,176 (2025)
Improvements Assessment
$1,398,388 (2025)
Total Assessment
$2,877,564 (2025)
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$200k Reduction - 8 Huge Units in Silver Lake | 957 Vendome St
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