19-Bedroom Residential Income - 616 Imogen Avenue, Los Angeles, CA

Description

Welcome to 618 Imogen Ave, an rare NON RENT CONTROLLED Brand New 2026 Construction Luxury Five- Unit multi family building located in the highly sought-after Silverlake area with an UNHEARD of projected Cap Rate of 6.79%, projected monthly gross income of $29,900 and projected yearly income of $358,800. This highly desirable, trendy and walkable neighborhood of Silver Lake is considered one of LAs coolest area, just minutes to beautiful Silver lake Lake Reservoir, Erewhon, trendy coffee shops like Intelligentsia, cafes, restaurants like Bacari Silverlake, Echo Park, Dodger stadium, Sunset Junction, Hollywood, Downtown and so much more . The property consists of 8,415 square feet of Livable area and has Four-Large 4 bd, 4.5 baths units ranging from 1700-1800 sq ft and one private ADU unit which looks like a private house that has 3 bd 3 bath with 1,387 sq ft and 3 parking spaces situated on an approximately 7,500-square-foot lot. The units feature high Nine foot ceilings, high quality construction designer finishes throughout, upgraded cabinetry and faucets, brand new stainless steel appliances with in unit washer and dryer. The units features full of natural light, balconies and ample windows offering an exceptional combination of functionality, contemporary design, open floor plan and quality construction. The modern amenities, enormous garage parking spaces plus storage, panoramic spectacular rooftop deck with views showing all the beauties of Downtown skyline, including the Hollywood sign and Griffith observatory perfect for entertaining. The property layout provides an attractive combination of privacy and independence between the buildings while maintaining a cohesive overall development and the combination of large floor plans, modern finishes, quality construction, and extensive amenities provides a level of comfort more commonly associated with luxury single-family residences than traditional multifamily housing. Silver Lake is one of the LA's hottest rental market and the property gives the buyer the option to be delivered 100% Fully Vacant or 100% Leased and finding a brand new construction bldg in Silverlake is very rare find. Another brand new fourplex nearby sold for $3.9 million and 5 unit nearby sold for $4,625,000 making this deal priced very well! Each unit is separately metered for utilities to lower expenses for a buyer and easy to manage plus the property comes with 1 year builders warranty. This property is perfect for investors, a dream opportunity for 1031 Buyers and anyone that wants to invest in a safe asset at an amazing price and in one of the most desirable areas of Los Angeles. The neighborhood has several brand new construction close by, giving a modern and nice vibrant feel to the area. This property has a ton of benefits, some of which are long-term appreciation along with Depreciation benefits (buyer to consult with their CPA)! The property benefits from a highly desirable location with convenient access to freeways, stores, shops, retail, dining, entertainment, and transportation close to so many areas. Residents are within walking distance of an array of coffee shops, cafes, bagel shops, restaurants, and neighborhood services. The property is approximately 1/2 mile from Melrose Ave and 1 mile from Sunset Boulevard and on a very wide street. Buyer to Verify All.

Property details

Location

616 Imogen Avenue • Los Angeles, CA 90026

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