957 Vendome St - Apartments FOR SALE


Los Angeles, CA 90026- Silver Lake
$3,250,000 USD
213-305-9026
957 Vendome St, Los Angeles, CA for Sale
$3,250,000 USD
Apartments - FOR SALE
1/8
null | 3.7% Cap Rate

957 Vendome St
Los Angeles, CA 90026
Silver Lake


HIGHLIGHTS

  • Built in 1924, 957 Vendome Street is a unique and special investment opportunity on one of the best streets in Silver Lake.
  • Large spacious unit at +/- 1,100 SF each) and excellent unit composition. All Two & Three Bedroom Units.
  • 3 of 8 units have seen top-to-bottom remodels: reimagined living rooms & kitchens, new flooring, new modern lighting, updated kitchens & bathrooms.
  • Opportunity to nearly double (2X) existing rents. Five of eight units are not turned.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$378 USD /SF

# OF UNITS

8

PRICE/UNIT

$406,250

CAP RATE

3.7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8 Huge Units in Silver Lake

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,318 SF

ZONING

LAR2

APN/PARCEL ID

5426-016-011

ASK ABOUT THIS PROPERTY

Rich JohnsKW CommercialMore Info
213-305-9026

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Rich JohnsKW CommercialMore Info
213-305-9026

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