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Description
This property current has a total of 6 units and is located in prime Silver Lake, California. There are three structures on a total of
7,440 square feet. The current total building square footage is 4,619 and offers one- and two-bedroom apartment homes in a variety of floor plans. Three units are vacant and already gutted for a potential remodel. The buildings are in the process of utilizing the Ellis Act for the other three occupied units, but that has been on hold through the Pandemic. It is the owner’s understanding that this can recommence in Q1 2023. Or alternatively the process can be reversed if a Buyer decides to simply remodel and reposition the property. Some retrofit work is required.
* Phenomenal Silver Lake Location
* Tremendous Views & Potential Upside
* Major Reposition or Redevelopment Opportunity
* R3-1VL LA City Zoning with Tier 3 TOC (16 unit max density)
Location
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Listing Agent: Warren Berzack Courtesy of: Lee & Associates Office phone: 818-986-9800 Based on information from CRISNet MLS all data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Updated: 7th February, 2023 3:25 PM (UTC)
