3016 Waverly Drive, Los Angeles, CA 90039 (MLS # 25497531)
ASSUMABLE DEBT AT 3.44% UNTIL 2029! 6.76% CASH-ON-CASH RETURN! We are pleased to present the Waverly at Silver Lake. Perched atop a promontory between the red-hot Silverlake and Atwater Village neighborhoods on LA's eastside, this 45-unit luxury apartment community represents a rare and unique acquisition opportunity. Constructed in 1973 and composed of spacious efficiency, studio, 1, and 2-bedroom layouts, the Waverly at Silver Lake offers tenants a wide range of living options in a diverse urban setting. The 45 units are spread across 45,378 gross square feet. Total land area is just over one acre zoned RD1.5. Many units have sweeping views in multiple directions. The property features upscale amenities such as elevator service, a furnished sundeck and picnic area, laundry facilities and secured, gated parking for 58 vehicles. Many of the units have been highly upgraded with quartz countertops, modern flooring, new appliances and new fixtures. Select units also feature skylights and balconies or patios. The Waverly is nestled in a quiet residential neighborhood, yet it is less than a 10-minute walk from some of the area's trendiest shops and restaurants along Rowena Avenue. A quick stroll or drive along Hyperion will land tenants in Atwater Village which is home to several notable restaurants including Michelin-starred Morihiro Sushi. For the astute investor seeking a sizable, professionally-managed, luxury turnkey property with significant remaining upside potential, The Waverly provides strong in-place income with fantastic long-term growth potential.
Property Type(s):
Residential Income
|
Last Updated
|
2/13/2025
|
Year Built
|
1973
|
|
Community
|
Silver Lake - Echo Park
|
County
|
Los Angeles
|
Additional Details
| AREA |
Silver Lake - Echo Park |
| HEAT |
Forced Air |
| LOT |
1.01 acre(s) |
| STORIES |
3 |
| ZONING |
LARD1.5 |
Location
Listed with REMAX COMMERCIAL & INVESTMENT REALTY
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 3/12/25 4:14 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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