1501 Westerly Ter - Apartments FOR SALE


Los Angeles, CA 90026- Silver Lake
$1,749,000 USD
213-700-6515

NO PHOTO

$1,749,000 USD
Apartments - FOR SALE
null | 5.04% Cap Rate

1501 Westerly Ter
Los Angeles, CA 90026
Silver Lake


HIGHLIGHTS

  • Prime location near the Silver Lake Reservoir, Sunset Junction, dining, shopping, entertainment, and neighborhood amenities
  • Two side-by-side residences, each featuring 2 bedrooms and 2 bathrooms across two levels
  • Approximately 2,142 SF building situated on a 4,876 SF lot.

OVERVIEW

Nestled in one of Silver Lake's most sought-after pockets, this beautifully restored 1920s Mediterranean duplex blends timeless character with thoughtful modern updates. The side-by-side residences each span two levels and offer 2 bedrooms, 2 bathrooms, beautifully updated kitchens and bathrooms, central HVAC, in-unit laundry, hardwood floors, recessed lighting, generous closet space, dedicated office nooks, and charming sunrooms with views of the surrounding hills and the city skyline.What truly sets this property apart are its exceptional outdoor spaces. Each residence enjoys its own private outdoor area, while the fully fenced grounds provide an uncommon sense of privacy and security, complete with exterior lighting and security cameras. Lush landscaping, mature succulents, vibrant plantings, and fruit trees create a tranquil garden retreat equally suited for entertaining or everyday enjoyment. Adding even more versatility is an approximately 350-square-foot detached, partially converted garage offering one-car parking with an EV charger, along with a flexible bonus space ideal for an art studio, music room, home gym, or office. An additional off-street parking space is available in the driveway. Both residences are occupied by excellent month-to-month tenants paying market rents, generating a combined gross monthly income of $10,550 ($5,800 and $4,750 per month). Current annual operating expenses for utilities and maintenance, including water, sewer, trash, and landscaping, are approximately $7,700. With both leases on a month-to-month basis, the property offers exceptional flexibility for investors seeking immediate cash flow or owner-users looking to occupy one residence while offsetting their mortgage with rental income. Ideally located just moments from the reservoir, Sunset Junction, Erewhon, acclaimed restaurants, boutiques, and nightlife. This is a rare opportunity to own a beautifully restored duplex in one of Los Angeles' most vibrant and coveted neighborhoods.

FOR SALE DETAILS

PRICE

$1,749,000 USD

PRICE/SF

$817 USD /SF

# OF UNITS

2

PRICE/UNIT

$874,500

CAP RATE

5.04%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

LAR2

APN/PARCEL ID

5425-011-030

ASK ABOUT THIS PROPERTY

David LukanCOMPASS CommercialMore Info
213-700-6515

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David LukanCOMPASS CommercialMore Info
213-700-6515

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.