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2743 Waverly Dr

Los Angeles, CA 90039
  • $3,300,000
  • STATUS: Active
  • ON SITE: 71 Days
  • MLS #: 21-783748
UPDATED: 46 min ago
$3,300,000
  • 17
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,720
    SQFT
  • $427
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1950
County:

School Ratings & Info

Description

2743 Waverly Drive is a 2-story, 9-unit value-add multi-family investment opportunity with 52%+ rental upside potential, located in the highly desirable Silver Lake submarket of Los Angeles, just south of Riverside Drive and northeast of Glendale Blvd. Built in 1950, the building is comprised of 1 two-story (3+1.5 townhome), 6 (2+1), and 2 (1+1) units that average approximately 850+ gross square feet. The 7,720 square foot structure is situated on an oversized 28,986 square foot, LARD2-1VL-RIO zoned lot, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU) or potential future re-development. The property includes a large rear backyard and central courtyard area with ample outdoor space. There are 9 individual parking garages in the front of the building with a large/accessible communal deck/walkway directly above. The buildings units are bright and spacious, and select units have been upgraded with new laminate wood flooring in the living room and carpet in the bedrooms. All units feature original parquet wood floors in the living rooms, some of which are hidden below laminate wood or carpet flooring. Second floor units offer sweeping, picturesque views of the San Bernardino Mountains and the Silver Lake Hills. The property is separately metered for gas & electric. With a Walk Score of 80, the property's Silver Lake location, near the Rowena Ave and Glendale Blvd intersection and 0.5 miles from the north edge of the Silver Lake Reservoir, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Silver Lake, Sunset Junction, Los Feliz, Atwater Village, and the revitalized Downtown Los Angeles is less than 4 miles to the south. The building is 0.4 miles south of the 5 freeway, 1.2 miles north of the 2, 2.8 miles north of the 101 and 3.3 miles northwest of the 110. 2743 Waverly Drive is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-26T21:42:43.307. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/121436027
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2743 Waverly Dr Los Angeles, CA 90039

  • Price: $3,300,000
  • Status: Active
  • On Site: 71 Days
  • Updated: 46 min ago
  • MLS #: 21-783748
17
Beds
0
Baths
0
½ Baths
N/A
Acres
7,720
SQFT
$427
$/SQFT
1950
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
2743 Waverly Drive is a 2-story, 9-unit value-add multi-family investment opportunity with 52%+ rental upside potential, located in the highly desirable Silver Lake submarket of Los Angeles, just south of Riverside Drive and northeast of Glendale Blvd. Built in 1950, the building is comprised of 1 two-story (3+1.5 townhome), 6 (2+1), and 2 (1+1) units that average approximately 850+ gross square feet. The 7,720 square foot structure is situated on an oversized 28,986 square foot, LARD2-1VL-RIO zoned lot, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU) or potential future re-development. The property includes a large rear backyard and central courtyard area with ample outdoor space. There are 9 individual parking garages in the front of the building with a large/accessible communal deck/walkway directly above. The buildings units are bright and spacious, and select units have been upgraded with new laminate wood flooring in the living room and carpet in the bedrooms. All units feature original parquet wood floors in the living rooms, some of which are hidden below laminate wood or carpet flooring. Second floor units offer sweeping, picturesque views of the San Bernardino Mountains and the Silver Lake Hills. The property is separately metered for gas & electric. With a Walk Score of 80, the property's Silver Lake location, near the Rowena Ave and Glendale Blvd intersection and 0.5 miles from the north edge of the Silver Lake Reservoir, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Silver Lake, Sunset Junction, Los Feliz, Atwater Village, and the revitalized Downtown Los Angeles is less than 4 miles to the south. The building is 0.4 miles south of the 5 freeway, 1.2 miles north of the 2, 2.8 miles north of the 101 and 3.3 miles northwest of the 110. 2743 Waverly Drive is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
Exterior Features

Carport Spaces Total 9 Direction Faces South Lot Description Back Yard Lot Size Area 28936 Other Structures Shed(S) Parking Garage Garage - 1 Car Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Tennis YN No Total Parking 9 View Description HillsMountainsCity View YN Yes Water Frontage None

Interior Features

Baths Total 10.00 Cooling Ceiling Fan Equipment Range/OvenCeiling Fan Flooring ParquetLaminateTileCarpet Heating WallGravity Laundry None

Property Features

Gross Income 203976 Gross Operating Income 197857 Like Units1 2 Like Units2 6 Like Units3 1 Net Operating Income 123564.00 Number Of Buildings 1 Number Of Units 9 Owner Pays WaterGardener Rent Control YN Yes Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays GasElectricity Total Annual Expense 74293 Type Of Units Mixed Year Built Source Assessor Zoning Lard2-1Vl-Rio

Listing provided courtesy of Matthew R. Kanner DRE#01349203 of Keller Williams Realty Los Feliz.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-26T21:42:43.307. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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