2616 Glendale Blvd is a rare, pride-of-ownership fourplex located in ultra-trendy Silver Lake! Just a quick walk to the Silver Lake Reservoir and the many neighborhood hotspots on Glendale Blvd, such as Whole Foods, Red Lion Tavern and Constellation Coffee! With such a premium, walkable location, this fourplex will attract high quality renters quickly! Inventory in A+ Silver Lake is low, making this an opportunity you’ll want to jump on right away! Also important to note is the potential for 1 or 2 ADU’s in the back, which would add tremendous value.

This charming property will be delivered with TWO units vacant at close of escrow, meaning this is a perfect opportunity for both owner occupiers and investors. Either A) live in one of the vacant units while having the tenants cover the mortgage or B) rent for top dollar and achieve an outstanding return. The current projected cap rate is close to 4% and the pro forma cap rate is a whopping 5.74%. Whether you plan to occupy or fully rent, you can’t go wrong either way! Additionally, the existing tenants are responsible and kind tenants who have always paid on time.

2616 Glendale Blvd is made up of four spacious 1b/1b units that are 682+ sq ft each. The property features a large private parking lot that sits behind a motorized security gate. The units boast spacious, open floorplans, plentiful windows letting in ample natural lighting, and real hardwood flooring! Another notable perk is that the property is situated in the Ivanhoe School District, which is considered one of the best elementary schools in LA!

In a market with fourplexes nearby going at $2,000,000+ and price per SF’s at $600-$1,000+, this is a rare opportunity to pin something down for an unheard of price of $1,550,000!