Sold – 1624 Westerly Terrace

Overview

Type
Sqft.
4,315.00
sqft.
Price Per Sqft.
$
336.04
CAP Rate
4.31
%
Lot Size
4,795.00
sqft.

Description

Rosano Partners is pleased to present the opportunity to acquire a tri-plex located in the heart of Silver Lake. Built in 1989 the subject property offers a unit mix of 2 one-bedroom one-bathroom, and 1 beautiful single family house. The average rent per square foot is $1.69 while the market rent is more than $1.92 per square foot depending on improvements and finishes. With rents being 12% below market in a location that is continuing to gentrify, this property is the ideal investment for a savvy investor.

Location Features
The subject property is situated between Westerly Terrace and Rendall Pl near the Silver Lake Recreation Center. The property lies near the intersection of Silver Lake Boulevard and Sunset Boulevard. Being less than a mile from many schools, restaurants, and entertainment options, tenants will benefit from the local offerings and transportation.


Managing Agent

Edward G. Caballero

Senior Associate, Multi-Family Investment Sales
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