1353 Edgecliffe Drive , #1

    Los Angeles (City), CA 90026
    • $2,225,000
    • STATUS: Active
    • ON SITE: 145 days
    • ID#: SB19124724
    UPDATED: 32 min ago
    $2,225,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,351
      SQFT
    • $511
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:

    School Ratings & Info

    Description

    Presenting an intriguing new 6 unit Silverlake listing at 1353 Edgecliffe Drive, LA 90026. Featuring a great unit mix with three 2+1 units & three 1+1 units. The current gross income is approx. $10,830/mth; $129,960/yr. At our recently reduced $2.225M asking price, the property is priced at: $370,833/unit; a 17.12 current GRM; a 3.78%, and $511/SF. This turnkey Edgecliffe property offers the astute investor solid cash flow from Day 1 with solid additional rent upside as the existing tenants eventually vacate. A+ location with stairs directly down to all Sunset Blvd's entertainment & an easy walk to a ton of great restaurants/shops/cafes including: Millie's Cafe; Cliff's Edge; Pine & Crane, The Black Cat; Intelligentsia Coffee; El Cid; and Flore Vegan to name a few. Also conveniently located close to Micheltorena Elementary School & Lockwood Avenue Elementary.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-22T17:36:34.683. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or First Team Real Estate. Licensed in the State of California, USA.
    www.theashleycooperteam.com/homes/95277560

    1353 Edgecliffe Drive , #1 Los Angeles (City), CA 90026

    • Price: $2,225,000
    • Status: Active
    • Updated: 32 min ago
    • ID#: SB19124724
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    4,351
    SQFT
    $511
    $/SQFT
    1959
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    Presenting an intriguing new 6 unit Silverlake listing at 1353 Edgecliffe Drive, LA 90026. Featuring a great unit mix with three 2+1 units & three 1+1 units. The current gross income is approx. $10,830/mth; $129,960/yr. At our recently reduced $2.225M asking price, the property is priced at: $370,833/unit; a 17.12 current GRM; a 3.78%, and $511/SF. This turnkey Edgecliffe property offers the astute investor solid cash flow from Day 1 with solid additional rent upside as the existing tenants eventually vacate. A+ location with stairs directly down to all Sunset Blvd's entertainment & an easy walk to a ton of great restaurants/shops/cafes including: Millie's Cafe; Cliff's Edge; Pine & Crane, The Black Cat; Intelligentsia Coffee; El Cid; and Flore Vegan to name a few. Also conveniently located close to Micheltorena Elementary School & Lockwood Avenue Elementary.
    Exterior Features

    Garage Spaces 3.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 3.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 129960.00 Gross Operating Income 126061.00 Gross Scheduled Income 129960.00 Insurance Expense 1740.00 Land Lease YN No Laundry Income 1400.00 Laundry YN Yes Maintenance Expense 6498.00 Net Operating Income 84010.00 New Construction YN No New Taxes Expense 27813.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 42051.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 129960.00 Total Expenses 42051.00 Trash Expense 0.00 Vacancy Allowance 3899 Water Sewer Expense 4800.00 Water Source Public Year Built Source Assessor Zoning Lar2

    Listing provided courtesy of Matthew Dunfrund of Lyon Stahl Investment Real Estate, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-22T17:36:34.683. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or First Team Real Estate. Licensed in the State of California, USA.
     
    First Team Real Estate
    CA,