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1639 Micheltorena ST Los Angeles, CA 90026
13 Beds
10 Baths
5,594 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,594 sqft
Price per Sqft $563
MLS Listing ID 26641949
Bedrooms 13
HOA Y/N No
Year Built 1928
Lot Size 8,637 Sqft
Property Description
We are pleased to present 1637-1639 Micheltorena Street, an 8-unit apartment community located in the heart of prime Silver Lake, one of Los Angeles' most sought-after rental submarkets. The property has undergone a comprehensive redevelopment, with 7 of the 8 units either fully gut-renovated or newly constructed in 2023, offering a largely new asset with modern systems and future upside. The unit mix is spread across three separate buildings. The front building consists of five units (four 1-bed/1-bath units and one 2-bed/1-bath unit). The rear of the property features a freestanding 3-bed/2-bath home with central heat/AC along with a 2023-constructed duplex comprised of a 3-bed/2-bath unit and a 1-bed/1-bath unit. The two new-construction units are not subject to rent control, providing operational flexibility and long-term income upside. Renovated units feature luxury vinyl plank flooring, quartz countertops, custom cabinetry, stainless steel appliances, designer tile, in-unit washer/dryers, and upgraded heat/AC systems. Major capital improvements include new electrical, plumbing, drain lines, windows, and doors, significantly reducing near-term cap-ex exposure. Two of the three buildings also feature new roofs, and all structures were refreshed with smooth stucco exteriors. The exterior was redesigned with drought-tolerant landscaping, a newly poured driveway, and 7 on-site parking spaces. Located just steps from the Silver Lake Reservoir, Micheltorena Street is one of the neighborhood's most iconic and desirable addresses. Residents enjoy immediate access to some of Silver Lake's most acclaimed dining, shopping, and lifestyle amenities, as well as everyday conveniences all within moments of the property. Offered at a current 5.43% cap rate, this is a rare opportunity to acquire a largely new, high-quality asset in one of Los Angeles' most sought-after rental submarkets.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR2
Interior
Heating Central
Fireplace No
Exterior
Parking Features Assigned, Carport
Pool None
Total Parking Spaces 7
Private Pool No
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5429026006
Special Listing Condition Standard
Listed by Benjamin J. Hsiang Realty Investment Advisors, Inc.