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    2743 Waverly Drive

    Los Angeles (City), CA 90039
    • $3,300,000
    • STATUS: Active
    • ON SITE: 31 Days
    • ID#: 21783748
    UPDATED: 51 min ago
    $3,300,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1950
    County:

    School Ratings & Info

    Description

    2743 Waverly Drive is a 2-story, 9-unit value-add multi-family investment opportunity with 52%+ rental upside potential, located in the highly desirable Silver Lake submarket of Los Angeles, just south of Riverside Drive and northeast of Glendale Blvd. Built in 1950, the building is comprised of 1 two-story (3+1.5 townhome), 6 (2+1), and 2 (1+1) units that average approximately 850+ gross square feet. The 7,720 square foot structure is situated on an oversized 28,986 square foot, LARD2-1VL-RIO zoned lot, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU) or potential future re-development. The property includes a large rear backyard and central courtyard area with ample outdoor space. There are 9 individual parking garages in the front of the building with a large/accessible communal deck/walkway directly above. The buildings units are bright and spacious, and select units have been upgraded with new laminate wood flooring in the living room and carpet in the bedrooms. All units feature original parquet wood floors in the living rooms, some of which are hidden below laminate wood or carpet flooring. Second floor units offer sweeping, picturesque views of the San Bernardino Mountains and the Silver Lake Hills. The property is separately metered for gas & electric. With a Walk Score of 80, the property's Silver Lake location, near the Rowena Ave and Glendale Blvd intersection and 0.5 miles from the north edge of the Silver Lake Reservoir, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Silver Lake, Sunset Junction, Los Feliz, Atwater Village, and the revitalized Downtown Los Angeles is less than 4 miles to the south. The building is 0.4 miles south of the 5 freeway, 1.2 miles north of the 2, 2.8 miles north of the 101 and 3.3 miles northwest of the 110. 2743 Waverly Drive is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-17T07:29:04.23. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
    www.therealestategirl.com/homes/121434614
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    2743 Waverly Drive Los Angeles (City), CA 90039

    • Price: $3,300,000
    • Status: Active
    • Updated: 51 min ago
    • ID#: 21783748
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1950
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    2743 Waverly Drive is a 2-story, 9-unit value-add multi-family investment opportunity with 52%+ rental upside potential, located in the highly desirable Silver Lake submarket of Los Angeles, just south of Riverside Drive and northeast of Glendale Blvd. Built in 1950, the building is comprised of 1 two-story (3+1.5 townhome), 6 (2+1), and 2 (1+1) units that average approximately 850+ gross square feet. The 7,720 square foot structure is situated on an oversized 28,986 square foot, LARD2-1VL-RIO zoned lot, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU) or potential future re-development. The property includes a large rear backyard and central courtyard area with ample outdoor space. There are 9 individual parking garages in the front of the building with a large/accessible communal deck/walkway directly above. The buildings units are bright and spacious, and select units have been upgraded with new laminate wood flooring in the living room and carpet in the bedrooms. All units feature original parquet wood floors in the living rooms, some of which are hidden below laminate wood or carpet flooring. Second floor units offer sweeping, picturesque views of the San Bernardino Mountains and the Silver Lake Hills. The property is separately metered for gas & electric. With a Walk Score of 80, the property's Silver Lake location, near the Rowena Ave and Glendale Blvd intersection and 0.5 miles from the north edge of the Silver Lake Reservoir, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Silver Lake, Sunset Junction, Los Feliz, Atwater Village, and the revitalized Downtown Los Angeles is less than 4 miles to the south. The building is 0.4 miles south of the 5 freeway, 1.2 miles north of the 2, 2.8 miles north of the 101 and 3.3 miles northwest of the 110. 2743 Waverly Drive is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
    Exterior Features

    Carport Spaces 9 Carport YN Yes Direction Faces South Lot Features Back Yard Other Structures Shed(S) Parking Features Door-SingleGarage Parking Total 18 Pool Features None Pool Private YN No Spa Features None Spa YN No View City LightsHillsMountain(S) View YN Yes

    Interior Features

    Flooring CarpetLaminateTile Heating GravityWall Furnace Heating YN Yes Interior Features Ceiling Fan(S)

    Property Features

    Garage YN Yes Gross Income 203976 Laundry Features None Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 123564 Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Zoning Lard2-1Vl-Rio

    Listing provided courtesy of Matthew R. Kanner of Keller Williams Realty Los Feliz


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-17T07:29:04.23. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
     
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