We are pleased to present a sixteen (16) unit apartment building located at 906-912 N Virgil Avenue in Los Angeles, California. The subject property is situated in a prime Virgil Village location one block outside of Silver Lake, south of Santa Monica Boulevard and east of North Vermont Avenue. Built in 1926, this property contains a streamlined unit mix of sixteen (16) large one bedroom / one bathroom units spread across two (2) lots. The separate lots have eight (8) units each, so there is no need for a on-site manager. Situated in an opportunity zone, the property features a brand new roof completed in 2022, a completely redone foundation, fully repiped plumbing, and a secure gating system. Seven (7) of the units are fully renovated with new in-unit washer/dryers, and all units have access to the incredible center courtyard. Tenants will love being within walking distance so some of the trendiest restaurant, retail, and entertainment amenities across North Virgil Village and Silver Lake. Some of these amenities include Alma's Cider & Beer right next door, Bolita, Virgil Normal, Erewhon Market, The Black Cat, Bacari Silverlake + Bar Bacari, Pine and Crane, and many more. Outdoor recreation is also available less than half a mile away at the Bellevue Recreation Center and Park. Residents of this building have central access to all that Los Angeles has to offer. Situated in a prime Virgil Village location one block outside of Silver Lake, this offering presents an excellent opportunity for any investor to capitalize on nearly 60% rental upside potential in a core market of Los Angeles.
Courtesy of Marcus & Millichap, Jason Tuvia,
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Data last updated 10/7/22