This 8-unit apartment building is ideally situated in the hip Silverlake neighborhood of Los Angeles with a very easy commute to Downtown Los Angeles, Hollywood, Glendale, Burbank and Pasadena. This property is also within walking distance of a recently renovated shopping center with a 365 by Whole Foods Market, restaurants, cafes, shopping, library and the Silverlake Reservoir recreation area. Sitting on a 7,375 Sq Ft lot, the apartment building is comprised of 8 identical 1-bedroom/1-bath units of approximately 550 Sq Ft, with covered parking for 6 cars and 1 additional parking space in front. All units are currently rented with an on-site manager; several units are well under market-rate and all are on a month-to-month lease basis. While the building is under rent control ordinance, there could be significant upside potential. Several new condo/townhome complexes have been built and/or are under construction in the area, so the property would be ideal for potential development.
