1651 Redcliff St - Apartments FOR SALE


Los Angeles, CA 90026
$5,150,000 USD
213-239-3392
1651 Redcliff St, Los Angeles, CA for Sale
$5,150,000 USD
Apartments - FOR SALE
1/28
null | 6.01% Cap Rate

1651 Redcliff St
Los Angeles, CA 90026


HIGHLIGHTS

  • Prime Location
  • Diverse Unit Mix
  • Renovated or Newly Constructed Units
  • ADU Under Construction

OVERVIEW

Welcome to 1651 Redcliff Street, an amazing 6-unit property nestled in the heart of Silver Lake (90026), a highly sought-after neighborhood in Los Angeles. The property offers a diverse unit mix, comprising a 1927-built front house with 4 bedrooms and 3.5 baths, a triplex built in 1964 with three 2-bedroom, 2-bath units, and a newly constructed duplex featuring two 6-bedroom, 4.5-bathroom units with rooftop decks and stunning views. All units have been beautifully renovated or are newly constructed, commanding top-of-the-market rents. There are RTI plans for a storage room to be converted into a spacious (+/-) 731 square foot Accessory Dwelling Unit (ADU). Featuring sunlit interiors with hardwood floors and carefully crafted architectural details, these units provide a warm and welcoming ambiance. Each unit boasts spacious bedrooms, updated kitchens with stainless steel appliances, stylish bathrooms, central AC, in-unit laundry, and private outdoor spaces in some units. Situated on a 16,736 square foot lot, aside from the newly constructed duplex, all units have undergone gut-level renovations, ensuring a modern living experience while preserving their timeless charm. Additionally, all units are separately metered for gas and electric, with parking available for 10+ vehicles. The property's prime location in Silver Lake offers proximity to cafes, entertainment venues, and lifestyle amenities such as Intelligentsia, Erewhon, Edendale, Forage, Michelangelo Ristorante, Ivanhoe Restaurant, Burgers Never Say Die, Whole Foods, and Trader Joe's. With DTLA, Los Feliz, and Hollywood just a short drive away, residents have access to countless dining and shopping options. Positioned in the thriving Silver Lake-Hollywood submarket, 1651 Redcliff presents an ideal investment opportunity for apartment operators seeking immediate returns and long-term wealth preservation through stable rental income and potential property appreciation. Its outstanding location, robust income metrics, and potential for future rental income growth make it an attractive asset. Buyer's responsibility includes verifying all zoning regulations and building feasibility with the Los Angeles Department of Building and Safety (LADBS) and other relevant city departments. To obtain further details or to arrange a showing, please contact the listing agent.

FOR SALE DETAILS

PRICE

$5,150,000 USD

PRICE/SF

$508 USD /SF

# OF UNITS

6

PRICE/UNIT

$858,333

CAP RATE

6.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Redcliff Retreat

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1956

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,736 SF

ZONING

LAR2

APN/PARCEL ID

5425-001-049

ASK ABOUT THIS PROPERTY

Archie RobbKeller Williams Realty La CanaMore Info
213-239-3392

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Archie RobbKeller Williams Realty La CanaMore Info
213-239-3392

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.