Los Feliz - 4 Units near Hillhurst Ave. | 1570 Myra Ave
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Los Feliz - 4 Units near Hillhurst Ave. 1570 Myra Ave
4 Unit Block of Flats £1,759,730 (£439,933/Unit) 5.61% Net Initial Yield Los Angeles, CA 90027
Investment Highlights
- Original Duplex Fully Renovated & Accessory Dwelling Units Added in 2023
- Los Feliz and Silver Lake Nightlife, Shopping, and Dining
- South of Prospect Studios, near Hillhurst Ave.
- Each Unit with Private Outdoor Area
- Pedestrian Friendly and Central to All
- Near Metro B (Red) Line Subway Station
Executive Summary
Tucked away in the desirable Los Feliz neighborhood, this immaculate 4-unit property at 1570 Myra Ave. is brimming with pride of ownership!
With the original Spanish-style duplex built in the 1920s fully renovated, and the two Shipping Container Accessory Dwelling Units finished in 2023, this property features strong tenants and short-term-rental income.
Set on a comfortable, beautifully landscaped corner lot, the property saw extensive renovations in 2023, creating a modern vibe that perfectly complements the area. The unit-mix includes two stylish 3 bedroom, 1 bath, along with two 207 SF, 1 bedroom, 1 bath ADUs, plus loft and Deck areas, all thoughtfully designed with high-end finishes, in-unit laundry, large windows and a great attention to detail. Each unit boasts large private patios, with the ADUs also having decks above the living area.
The original Duplex is rented at $4,250 per unit, while the ADUs, not being subject to RSO, are commanding lucrative short-term rents…or rent long-term to simplify things…or move-in, with no need to relocate tenants. The garage is rented separately at $500 per month.
Purchase the property to move in and obtain beneficial residential financing! Or rely on the solid CAP and the potential for strong appreciation!
Located within walking distance to Los Feliz’s and Silver Lake’s best restaurants, bars, and shops, 1570 Myra Ave. delivers a blend of urban convenience and residential tranquility perfect for the young professionals as well as growing families! The property is individually metered for gas and electric and features water sub-meters, ready for tenants to cover all utilities.
Situated on a quiet street near Sunset Junction, the property offers a serene yet accessible lifestyle. The ADUs, constructed from eco-friendly Shipping Containers, are tailored for the modern, artistic tenant common in Los Feliz and the rest of the Eastside. With the design that brings the outside in, by way of large and bright windows and generous outdoor space, including with access by spiral staircases to the roof decks, these residences don’t tend to stay vacant for long.
With its central location and captivating design, this property is a sound investment with steady appreciation potential in the thriving LA real estate market.
Please call Listing Agent Shaya Braverman with any questions.
With the original Spanish-style duplex built in the 1920s fully renovated, and the two Shipping Container Accessory Dwelling Units finished in 2023, this property features strong tenants and short-term-rental income.
Set on a comfortable, beautifully landscaped corner lot, the property saw extensive renovations in 2023, creating a modern vibe that perfectly complements the area. The unit-mix includes two stylish 3 bedroom, 1 bath, along with two 207 SF, 1 bedroom, 1 bath ADUs, plus loft and Deck areas, all thoughtfully designed with high-end finishes, in-unit laundry, large windows and a great attention to detail. Each unit boasts large private patios, with the ADUs also having decks above the living area.
The original Duplex is rented at $4,250 per unit, while the ADUs, not being subject to RSO, are commanding lucrative short-term rents…or rent long-term to simplify things…or move-in, with no need to relocate tenants. The garage is rented separately at $500 per month.
Purchase the property to move in and obtain beneficial residential financing! Or rely on the solid CAP and the potential for strong appreciation!
Located within walking distance to Los Feliz’s and Silver Lake’s best restaurants, bars, and shops, 1570 Myra Ave. delivers a blend of urban convenience and residential tranquility perfect for the young professionals as well as growing families! The property is individually metered for gas and electric and features water sub-meters, ready for tenants to cover all utilities.
Situated on a quiet street near Sunset Junction, the property offers a serene yet accessible lifestyle. The ADUs, constructed from eco-friendly Shipping Containers, are tailored for the modern, artistic tenant common in Los Feliz and the rest of the Eastside. With the design that brings the outside in, by way of large and bright windows and generous outdoor space, including with access by spiral staircases to the roof decks, these residences don’t tend to stay vacant for long.
With its central location and captivating design, this property is a sound investment with steady appreciation potential in the thriving LA real estate market.
Please call Listing Agent Shaya Braverman with any questions.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£138,869
|
£61.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£4,166
|
£1.85
|
| Effective Gross Income |
£134,703
|
£59.97
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£36,061
|
£16.06
|
| Net Operating Income |
£98,643
|
£43.92
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £138,869 |
| Annual Per SF | £61.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £4,166 |
| Annual Per SF | £1.85 |
| Effective Gross Income | |
|---|---|
| Annual | £134,703 |
| Annual Per SF | £59.97 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £36,061 |
| Annual Per SF | £16.06 |
| Net Operating Income | |
|---|---|
| Annual | £98,643 |
| Annual Per SF | £43.92 |
Property Facts
| Price | £1,759,730 | Apartment Style | Garden |
| Price Per Unit | £439,933 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 1,998 SF |
| Net Initial Yield | 5.61% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.67 | Number of Floors | 1 |
| No. Units | 4 | Year Built/Renovated | 1925/2023 |
| Property Type | Residential | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment |
| Price | £1,759,730 |
| Price Per Unit | £439,933 |
| Sale Type | Investment |
| Net Initial Yield | 5.61% |
| Gross Rent Multiplier | 12.67 |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.14 AC |
| Building Size | 1,998 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built/Renovated | 1925/2023 |
| Parking Ratio | 1/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | £2,265 | 207 |
| 3+1 | 2 | £3,325 | 792 |
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Walk Score ®
Very Walkable (79)
zoning
| Zoning Code | R1 |
| R1 |
-
Dario Svidler -
Shaya Braverman -
Partners CRE - KWBH
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Los Feliz - 4 Units near Hillhurst Ave. | 1570 Myra Ave
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