We are pleased to present 3209 Descanso Drive, a 17-unit apartment community located in the Silver Lake neighborhood of Los Angeles, located on the corner of Descanso Dr and Larissa Dr, just off of Sunset Blvd. Ownership has completed recent common area capital improvements such as new entrance stairs, exterior… Read More paint, new fence, new access control video intercom system and wall heater replacement for select units. There is also RUBS in place, and a common area laundry room with two washers and two dryers. The property consists of nine singles, seven one-bedrooms, and one two-bedroom ADU in the basement that is currently under construction and is scheduled to be completed in May 2026. Many units have undergone interior renovations including luxury vinyl plank flooring, new paint, lighting fixtures, stainless steel appliances, tile bathrooms, and custom cabinetry. Within walking distance to neighborhood restaurants, retail, and entertainment venues along Sunset Blvdincluding Pine & Crane, Bacari Silver Lake, Intelligentsia Coffee, and Erewhon Marketthe property provides convenient access to surrounding Silver Lake amenities. The asset features a Walk Score of 96 (Walker's Paradise), allowing residents to accomplish most daily errands without a vehicle, and is one mile from the Metro Red rail line and steps to multiple Metro local lines on Sunset Blvd. There is strong existing cash flow with the property being offered at a 6.49% CAP rate and 9.68 GRM on current income. Silver Lake continues to attract a mix of young professionals, creatives, and families drawn to its neighborhood feel and concentration of restaurants, boutiques, coffee shops, and entertainment along the Sunset corridor. Read Less
Courtesy of Marcus & Millichap 310-909-5500
Listing Snapshot
Days Online
2
Last Updated
Property Type
Other
Beds
6
Square Ft.
10,559
Lot Size
0.13 Acres
Year Built
1928
MLS Number
26670235
30 Days Snapshot Of 90026
$1.35M
-6%
(avg) sold price
16
+100%
homes sold
53
-48%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
10,559 sq ft, Built in 1928, Levels: Multi/Split
Cooling
None
Disclosures
None
Garage
None
Heating
None
Lot
LotAcreage: 0.1262, LotSizeArea: 5,499
Parking
TotalParking: 0
Property
NumberOfUnits: 17, Zoning: LAR3
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