ASSUMABLE DEBT AT 3.44% UNTIL 2029! 6.76% CASH-ON-CASH RETURN! We are pleased to present the Waverly at Silver Lake. Perched atop a promontory between the red-hot Silverlake and Atwater Village neighborhoods on LA's eastside, this 45-unit luxury apartment community represents a rare and unique acquisition opportunity. Constructed in 1973 and… Read More composed of spacious efficiency, studio, 1, and 2-bedroom layouts, the Waverly at Silver Lake offers tenants a wide range of living options in a diverse urban setting. The 45 units are spread across 45,378 gross square feet. Total land area is just over one acre zoned RD1.5. Many units have sweeping views in multiple directions. The property features upscale amenities such as elevator service, a furnished sundeck and picnic area, laundry facilities and secured, gated parking for 58 vehicles. Many of the units have been highly upgraded with quartz countertops, modern flooring, new appliances and new fixtures. Select units also feature skylights and balconies or patios. The Waverly is nestled in a quiet residential neighborhood, yet it is less than a 10-minute walk from some of the area's trendiest shops and restaurants along Rowena Avenue. A quick stroll or drive along Hyperion will land tenants in Atwater Village which is home to several notable restaurants including Michelin-starred Morihiro Sushi. For the astute investor seeking a sizable, professionally-managed, luxury turnkey property with significant remaining upside potential, The Waverly provides strong in-place income with fantastic long-term growth potential. Read Less
Courtesy of REMAX COMMERCIAL & INVESTMENT REALTY 310-802-2500
Listing Snapshot
Days Online
28
Last Updated
Property Type
Other
Beds
47
Square Ft.
45,378
Lot Size
1.01 Acres
Year Built
1973
MLS Number
25497531
30 Days Snapshot Of 90039
$1,970k
+3%
(avg) sold price
10
+233%
homes sold
41
+41%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
45,378 sq ft, Built in 1973, Levels: Three Or More
Cooling
Wall Unit(s)
Disclosures
As Is
Garage
Gated Underground
Heating
Forced Air
Lot
LotAcreage: 1.0146, LotSizeArea: 44,194
Parking
TotalParking: 58
Property
NumberOfUnits: 45, Zoning: LARD1.5
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