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Jenarda Makupson

jenarda@kingdomkeysrealty.net +1(818) 200-5538

$ 2,995,000

Est. payment | -/mo

13 Beds

10 Baths

5,594 SqFt

Save

$ 2,995,000

Est. payment | -/mo

Save

13 Beds

10 Baths

5,594 SqFt

Key Details

Property Type Single Family Home

Listing Status Pending

Purchase Type For Sale

Square Footage 5,594 sqft

Price per Sqft $535

MLS Listing ID 26641949

Bedrooms 13

HOA Y/N No

Year Built 1928

Lot Size 8,637 Sqft

Property Description

We are pleased to present 1637-1639 Micheltorena Street, an 8-unit apartment community located in the heart of prime Silver Lake, one of Los Angeles' most sought-after rental submarkets. The property has undergone a comprehensive redevelopment, with 7 of the 8 units either fully gut-renovated or newly constructed in 2023, offering a largely new asset with modern systems and future upside. The unit mix is spread across three separate buildings. The front building consists of five units (four 1-bed/1-bath units and one 2-bed/1-bath unit). The rear of the property features a freestanding 3-bed/2-bath home with central heat/AC along with a 2023-constructed duplex comprised of a 3-bed/2-bath unit and a 1-bed/1-bath unit. The two new-construction units are not subject to rent control, providing operational flexibility and long-term income upside. Renovated units feature luxury vinyl plank flooring, quartz countertops, custom cabinetry, stainless steel appliances, designer tile, in-unit washer/dryers, and upgraded heat/AC systems. Major capital improvements include new electrical, plumbing, drain lines, windows, and doors, significantly reducing near-term cap-ex exposure. Two of the three buildings also feature new roofs, and all structures were refreshed with smooth stucco exteriors. The exterior was redesigned with drought-tolerant landscaping, a newly poured driveway, and 7 on-site parking spaces. Located just steps from the Silver Lake Reservoir, Micheltorena Street is one of the neighborhood's most iconic and desirable addresses. Residents enjoy immediate access to some of Silver Lake's most acclaimed dining, shopping, and lifestyle amenities, as well as everyday conveniences all within moments of the property. Offered at a current 6.20% cap rate, this is a rare opportunity to acquire a largely new, high-quality asset in one of Los Angeles' most sought-after rental submarkets.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR2

Interior

Heating Central

Fireplace No

Exterior

Parking Features Assigned, Carport

Pool None

Total Parking Spaces 7

Private Pool No

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5429026006

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Benjamin J. Hsiang Realty Investment Advisors, Inc. #01438644

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(818) 200-5538

jenarda@kingdomkeysrealty.net

303 North Glenoaks Boulevard #255, Burbank, CA 91501, USA

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1639 Micheltorena ST Los Angeles, CA 90026