979 981 Manzanita Street, Silver Lake, CA 90029

About this property

This property current has a total of 6 units and is located in prime Silver Lake, California. There are three structures on a total of 7,440 square feet. The current total building square footage is 4,619 and offers one- and two-bedroom apartment homes in a variety of floor plans. Three units are vacant and already gutted for a potential remodel. The buildings are in the process of utilizing the Ellis Act for the other three occupied units, but that has been on hold through the Pandemic. It is the owner’s understanding that this can recommence in Q1 2023. Or alternatively the process can be reversed if a Buyer decides to simply remodel and reposition the property. Some retrofit work is required. * Phenomenal Silver Lake Location * Tremendous Views & Potential Upside * Major Reposition or Redevelopment Opportunity * R3-1VL LA City Zoning with Tier 3 TOC (16 unit max density)

Listing description from the March 2023 sale, as reported to CRMLS.

Sale history

$1,450,000

Sold March 2023 · listed $1,595,000, on market January 2023 · MLS #SR23000365 · Source: CRMLS

Listing Agent: Warren Berzack · Listing Office: Lee & Associates · Contact: 818-269-2979 · Bought with: John Kim · JYK Commercial Realty, Inc.

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