242 N Dillon St, Silver Lake Adj.
Cash Cow, New Const. 5-Unit in Prime Silver Lake Adj. | 5.68% Cap Rate
242 N Dillon is a brand-new, NON-RENT-CONTROLLED five-unit luxury community near Silver Lake. This high-performing asset features large 4- and 5-bedroom units, rooftop decks, premium finishes, and separate utility meters. With a projected 5.68% cap rate, full builder’s warranty, and minimal expenses, it offers strong returns and low maintenance. Located on a gentrifying street, this trophy property blends prime design, income potential, and location in one of LA’s hottest rental markets.
The Important
Details
List Price:
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# Units:
Year Built:
Cap Rate:
GRM:
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$4,995,000
5-Unit
Pre-Market
5
2025
5.68%
13.75
$363,300/Year (Pro Forma)
9,722 sqft
6,370 sqft
$513.78
$999,000
1 x 5b/5.5b, 1x 4b/4.5b, 2x 4b/4b, 1x 4b/2b
No
6 Parking Spots +3 Possible Bonus Spaces
No
Other Features:
No Rent Control, Private Washers/Dryers for Each Unit, Separately Metered
The Highlights
NO RENT CONTROL!
Located 3 minutes from the heart of ultra trendy and highly sought after Silver Lake - a major draw for A+ tenants!
Outstanding projected cap rate of 5.68%! Cash cow.
MASSIVE units with premium floorplans.
The best curb appeal you'll find on this rapidly gentrifying street!
Boasts high-end, modern finishes.
Diverse unit mix of one 5 bedrooms, and four 4 bedrooms! High income producing property!
Stunning 360-degree rooftop decks with awe-inspiring views of the hills, downtown skyline, and even the ocean on a clear day!
All units separately metered for electric AND water (no gas on property)! Very low expenses!
Dream 1031 exchange opportunity. Ready to close now!
With SB-8 in effect, less new constructions are being built, making properties like these an even more rare and hot commodity.
Moments from Silver Lake's top destinations! Minutes walking to Woon, Silverlake Ramen, Tacolina, CAFE NIDO, Café Tropical, Bacari Silverlake and so much more!
The Neighborhood
<15-Minute Walk
Maury’s, Woon - Filipinotown, Doubting Thomas, Los Molcajetes, Target, Kalaveras, Black Cherry Café, Cafecito Organico Silver Lake, Daybird, Original Tommy’s, Frank Coffee, Shim Sham
<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, 4100 Bar, La Colombe Coffee Roasters
<$15 Uber Ride
Bar Flores, The Echo, Lady Byrd Café, LAMILL Coffee, Target, Maury’s, Sqirl, Erewhon Silver Lake, Courage Bagels, Bodega Park, Yolk, Budonoki, KinKan LA, Melody, Voodoo Vin, Malli, Millie’s Cafe
Contact
Lauren Cearley
213.302.8662
Property Presented By:
