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$ 1,435,000
Est. payment | /mo
6 Beds
4 Baths
5,459 Sqft Lot
$ 1,435,000
Est. payment | /mo
6 Beds
4 Baths
5,459 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26058411
Bedrooms 6
Lot Size 5,459 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Situated on a quiet cul-de-sac in Silver Lake, 422 Parkman Ave presents a well-located duplex opportunity in one of Los Angeles most sought-after rental markets. The property consists of two spacious 3-bedroom / 2-bath units totaling approximately 2,548 square feet of rentable space on a 5,459 square foot lot. It was built in 1996 so it is not subject to LA City Rent Control, it is only subject to AB 1482 statewide rent control. The upstairs unit has been newly renovated, creating an excellent opportunity for an owner-user to occupy one unit while generating income from the other. The unit features high ceilings, abundant natural light, and in-unit laundry, providing a comfortable and functional living environment. The lower unit provides stable in-place income with additional rental upside over time. The property includes a rear parking area with multiple spaces, offering convenient off-street parking for tenants. With strong existing income and the potential to capture market rents, the property presents both immediate cash flow and long-term value growth. Currently offering a 5.19% CAP rate and 13.49 GRM on current income, with a projected 6.11% market CAP and 11.96 market GRM, 422 Parkman Ave represents an attractive investment opportunity in a high-demand Silver Lake submarket known for its strong renter demand and proximity to major employment centers throughout Los Angeles.
Location
State CA
County Los Angeles
Zoning Appraiser
Direction At the end of the Parkman Ave Cul De Sac
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5401025033
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Brett Lyon, DRE#01717818 Lyon Stahl Investment Real Estate, Inc.