3027 Berkeley Avenue

  • Silver Lake

  • $2,149,000
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Residential Income Details

Description
One of Silver Lake's most appealing, solidly performing, income properties was just made even better following substantial improvements to include: new roof with all decorative Spanish tiles replaced or reset, new sewer clean-outs and jetting, resurfaced and sealed 1800 sq ft terrace, all four garages completely restored and finished with custom wood doors, new wrought iron railing... all done to further improve both function and aesthetic of this Mediterranean-style 4 plex. Nestled in the hills of Silver Lake, the property consists of three 2bd, 1ba, 1150 sq foot apartments, along with an additional two-story 3bd, 2ba, 1950 sq foot apartment. This is the marquee unit and is unique due to its flexibility: it can function as a 2bd 1ba, 1bd 1ba (the latter would be non-conforming. Current owner airbnb's the 1bd portion at 2400 per month, though non-conforming). This unit can also be kept as an owner's space, such as an office and perhaps rented for 1500 per month with the 2bd unit rented separately, at 3250. Any of the configurations allows income that easily exceeds 4250 per month, making this a very attractive unit, both in appearance and income potential. The three other units offer excellent rental income, as well, with only one performing well below market. The building, itself, is stunning in physical appearance, is set in an outstanding location and with recent improvements, is in wonderful condition. Agent is owner. Property is part of a 1031 transaction.
Essential
MLS #NP18113262
Price$2,149,000
Number of Units4
Sale TypeStandard
StatusActive
Listing BrokerageThomas E. Daniels
Listing AgentThomas Daniels
Listing Agent BRE #01455651
Interior
FeaturesBalcony,Copper Plumbing Partial,Corian Counters,High Ceilings (9 Feet+),Living Room Balcony,Pantry,Stone Counters,Storage Space
FloorTile,Wood
AppliancesBarbecue,Dishwasher,Gas Oven,Gas Range,Gas Water Heater,Range/Stove Hood,Refrigerator,Self Cleaning Oven,Tankless Water Heater
CoolingWall Window
HeatingCentral Furnace,Gravity Heating,Natural Gas
Exterior
ParkingGarage - Front Entry
Garage Spaces4
ViewHills
PoolNone
RoofingAsphalt,Composition
Community
Area671 - Silver Lake
CommunityGutters,Sidewalks
Address3027 Berkeley Avenue
CitySilver Lake
CountyLos Angeles
StateCA
ZipCode90026
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Thursday, October 18, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.