171 S Hoover St, Silverlake Adj.
5.81% Cap Rate
FULLY LEASED new construction 6-unit in the prime Silverlake Adj. currently leased at a real 5.81% cap rate! This highly elevated, multi-dimensional “triple duplex” boasts a rare unit mix of three massive 4 bedroom units, two large 2 bedroom units, & one 3 bedroom unit with 10 parking spots (+ 2 bonus spots).
The Important
Details
List Price:
Property Type:
Status:
# Units:
Year Built:
Cap Rate:
GRM:
Gross Rent:
Bldg. SF:
Lot SF:
$/SF:
$/Unit:
Unit Mix:
Opportunity Zone:
Parking:
Rent Control:
$3,395,000
6-Unit
For Sale
6
2024
5.81%
13.30
$255,348/Year
7,174 sqft
7,484 sqft
$473.24
$565,833
1x4b/3b, 2x4b/2.5b, 1x3b/2.5b, 2x2b/1.5b
No
10 Garage Spaces, 2 Bonus Spaces
No
Other Features:
Fully Leased, Excellent 5.81% Cap Rate
The Highlights
FULLY LEASED AT REAL 5.81% CAP RATE!
Ideal unit mix of 3x4 beds ($4,000, $3,795 & $3,795, 1x3 bed ($3,6) and 2x 2 bed ($2,995, $2,995)
Ideal unit mix of 4, 3 and 2 bedroom units.
Highly rentable Silverlake/Echo Park Adj. location.
Massive units with premium open floorplans.
High end, modern finishes.
No rent control!
Tenants pay all utilities! Separate meters for gas and electric, and 6 submeters for water.
Ultra-low price per door of $565,833.
Units boast upscale finishes, including marble top islands, designer tiles, modern glossy cabinets, and natural wood waterproof vinyl.
Countless balconies and massive windows throughout, making for light, bright units.
The Neighborhood
<15-Minute Walk
Gigi’s, Doubting Thomas, Maury’s, Angel City Zen Center, Woon, Los Molcajetes, Starbucks, Tierra Mia Coffee, Café Nido, Café Tropical, Izakaya Osen, Silverlake Ramen, Target, Larchmont Bungalow Café
<15-Minute Drive
Pine and Crane Silverlake, The RubyFruit, Millie's Café, Bacari, Silver Lake Farmers Market, 33 Taps Silver Lake, Bar Moruno, Kitsune, Intelligentsia Coffee Coffeebar, 4100 Bar, La Colombe Coffee Roasters
<$15 Uber Ride
Bar Flores, The Echo, Whole Foods Market, Lady Byrd Café, LAMILL Coffee, Target, Maury’s, Sqirl, Erewhon Silver Lake, Courage Bagels, Bodega Park, Yolk, Budonoki, KinKan LA , Melody, Voodoo Vin, Malli
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