Silver Lake | $168K/Unit | Approx. 83% Upside | 710 N La Fayette Park Pl
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Silver Lake | $168K/Unit | Approx. 83% Upside 710 N La Fayette Park Pl
16 Unit Block of Flats £2,148,572 (£134,286/Unit) 3.92% Net Initial Yield Los Angeles, CA 90026
Investment Highlights
- Excellent Silver Lake Location – Two Blocks from Sunset Boulevard
- Rare Offering – Marketed for Sale for First Time in Over 50 Years
- Current Rents Average Only $1.78 per Square Foot When Similar Apartments Achieve Over $3.50 per Square Foot
- Outstanding Repositioning Opportunity – Current Rents Approximately 83% Below Market
- Available for Only $168,000 per Unit While Renovated Apartments in the Area Have Sold for $350,000-$400,000+ per Unit
- Only 1.5 Miles to Sunset Junction, 1.2 Miles to Silver Lake Reservoir, and 1 Mile to Echo Park Lake
Executive Summary
Marcus & Millichap is pleased to announce the opportunity to purchase 710 N La Fayette Park Place, a 16-unit multifamily property situated in the highly desirable Silver Lake neighborhood of Los Angeles, CA. Under the same family ownership for more than 50 years, this asset presents an investor with a prime opportunity to reposition and add value, as current rents are approximately 83% below local market rates.
Located within two blocks of Sunset Boulevard, near the intersection of Silver Lake Boulevard and Sunset Boulevard, the property grants tenants access to some of the trendiest restaurants, boutiques, and coffee shops within both Silver Lake and Echo Park. Sunset Junction is only 1.5 miles from the building, while the dense employment center in Downtown Los Angeles is merely 2 miles southeast. A new small format Target recently opened less than a half-mile from the building. Tenants enjoy convenient access to the Greater Los Angeles metro via the 101 Freeway, within onramps just blocks from the property.
Located within two blocks of Sunset Boulevard, near the intersection of Silver Lake Boulevard and Sunset Boulevard, the property grants tenants access to some of the trendiest restaurants, boutiques, and coffee shops within both Silver Lake and Echo Park. Sunset Junction is only 1.5 miles from the building, while the dense employment center in Downtown Los Angeles is merely 2 miles southeast. A new small format Target recently opened less than a half-mile from the building. Tenants enjoy convenient access to the Greater Los Angeles metro via the 101 Freeway, within onramps just blocks from the property.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £2,148,572 | Apartment Style | Low Rise |
| Price Per Unit | £134,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Net Initial Yield | 3.92% | Building Size | 10,038 SF |
| Gross Rent Multiplier | 11.84 | Number of Floors | 2 |
| No. Units | 16 | Year Built | 1965 |
| Property Type | Residential | Parking Ratio | 1.49/1,000 SF |
| Property Subtype | Apartment |
| Price | £2,148,572 |
| Price Per Unit | £134,286 |
| Sale Type | Investment |
| Net Initial Yield | 3.92% |
| Gross Rent Multiplier | 11.84 |
| No. Units | 16 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 10,038 SF |
| Number of Floors | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.49/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 4 | £636.26 | 400 |
| 1+1 | 6 | £684.22 | 550 |
| 2+2 | 6 | £882.45 | 800 |
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Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 5402-004-007 | Total Assessment | £254,722 (2024) |
| Land Assessment | £33,786 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £220,936 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5402-004-007
Land Assessment
£33,786 (2024)
Improvements Assessment
£220,936 (2024)
Total Assessment
£254,722 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | LAR2 (restricted Density Multiple Dwelling) |
| LAR2 (restricted Density Multiple Dwelling) |
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Silver Lake | $168K/Unit | Approx. 83% Upside | 710 N La Fayette Park Pl
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