Multifamily

1548 Micheltorena St

1548 Micheltorena St, Los Angeles, CA 90026

Listing Price: $3,250,000

Cap Rate
4.97%
Number of Units
6
GRM
14.64
Occupancy
97.00%
Price/Unit
$541,667
Price/Gross SF
$862.07
Gross SF
3,770

Investment Overview

Marcus & Millichap is pleased to present a six (6) units apartment building located at 1548 Micheltorena Street in Los Angeles, California. The subject property is situated in a prime Silver Lake location, north of Sunset Boulevard and west of Silver Lake Boulevard.
Often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever-increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir thats ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, with close proximity to Hollywood and Downtown L.A., and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene.
Built in 1923, this property has a good unit mix of two (2) studio units and four (4) one-bedroom / one-bathroom units. The property features detached bungalow-style units and communal outdoor, courtyard space. The buildings are completely private with secured access to the property via an automatic gate and door. Units feature unparalleled quality renovations with vintage fixtures and hardware, quarter sawn oak floors, custom shelving in closets, sunlight refracting antique style glass windows, custom stained glass in bathroom windows, Malibu style tiles, and decorative Batchelder style faux fireplaces. The units come fully equipped with central HVAC, nest thermostats, washer and dryers in-unit, tankless water heaters, and kitchens that feature built-in-bars with backlit stained glass, built-in solid Douglas Fir cabinets and trim, subzero refrigerators, dishwashers, restored O'Keefe & Merritt gas stoves, and electric car charging spaces. Each unit comes with one (1) private separate refinished office at the rear end of the property. The crisp and refined property features unique, communal outdoor space and on-site parking.
Positioned in a prime Silver Lake location, this property is a rare, fully renovated and restored character building with strong in-place income.

Investment Highlights

  • Prime Silver Lake Location
  • Rare, Turn-key, Cash Flow Asset
  • Good Unit Mix
  • Unparalleled Quality Unit Renovations
  • Gated Property with Unique Outdoor Space
  • On-Site Parking with Electric Car Charging Spaces

Exclusively Listed By

Listing Price: $3,250,000

Cap Rate
4.97%
Number of Units
6
GRM
14.64
Occupancy
97.00%
Price/Unit
$541,667
Price/Gross SF
$862.07
Gross SF
3,770

Investment Highlights

  • Prime Silver Lake Location
  • Rare, Turn-key, Cash Flow Asset
  • Good Unit Mix
  • Unparalleled Quality Unit Renovations
  • Gated Property with Unique Outdoor Space
  • On-Site Parking with Electric Car Charging Spaces

Investment Overview

Marcus & Millichap is pleased to present a six (6) units apartment building located at 1548 Micheltorena Street in Los Angeles, California. The subject property is situated in a prime Silver Lake location, north of Sunset Boulevard and west of Silver Lake Boulevard.
Often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever-increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir thats ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, with close proximity to Hollywood and Downtown L.A., and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene.
Built in 1923, this property has a good unit mix of two (2) studio units and four (4) one-bedroom / one-bathroom units. The property features detached bungalow-style units and communal outdoor, courtyard space. The buildings are completely private with secured access to the property via an automatic gate and door. Units feature unparalleled quality renovations with vintage fixtures and hardware, quarter sawn oak floors, custom shelving in closets, sunlight refracting antique style glass windows, custom stained glass in bathroom windows, Malibu style tiles, and decorative Batchelder style faux fireplaces. The units come fully equipped with central HVAC, nest thermostats, washer and dryers in-unit, tankless water heaters, and kitchens that feature built-in-bars with backlit stained glass, built-in solid Douglas Fir cabinets and trim, subzero refrigerators, dishwashers, restored O'Keefe & Merritt gas stoves, and electric car charging spaces. Each unit comes with one (1) private separate refinished office at the rear end of the property. The crisp and refined property features unique, communal outdoor space and on-site parking.
Positioned in a prime Silver Lake location, this property is a rare, fully renovated and restored character building with strong in-place income.

Exclusively Listed By

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