Property listed by Lyon Stahl Investment Real Estate, Inc., Brett Lyon 3107801899
$1,550,000
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… Read More 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 4.73% CAP rate and 14.57 GRM on current income, with a projected 5.59% market CAP and 12.92 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. Read Less
Listing Snapshot
Days Online
5
Last Updated
Property Type
Apartment
Lot Size
0.13 Acres
Year Built
1996
MLS Number
SB26058411
Additional Details
Building
Built in 1996, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: Front Gate
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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