Studio house for sale

Overview

18 unit low rise garden style apartment building for sale with tremendous upside of 49% to peak proforma in one of the few remaining pockets in Los Angeles that hasn't seen big growth...yet. A short drive off the 101 and the Silver Lake Blvd exit is 343 S Occidental Blvd. The location is Silver Lake a few blocks to the north and Koreatown a few blocks to the east. 10 of the units are one bed one bath, 8 are studios. Rents were last raised February 2024. Current rents are $18, 936/mo ($227, 236/yr). Highest 1 bed unit is $1700/mo. Highest studio is $1500/mo. February 2025 rents at 4% increase gets to a 4.8 cap and 13.5 GRM. Proforma rents indicate $29, 000/mo or ($348, 000/yr) at 8.3 cap and 9.2 GRM. All units are occupied and rents are current. Laundry is on site. There are 13 parking spaces with the potential to add more.