1185 Myra Avenue

Los Angeles, CA 90029

$6,850,000
Last Sold Price
30
Beds
31
Baths
19,573 Sq. Ft.
$350 / Sq. Ft.
19,573
Sq. Ft.
$350
per Sq. Ft.

Description

We are pleased to present for sale a VACANT, prime Silver Lake Multifamily building just one block from Sunset Junction. This investment opportunity offers a buyer the ability to immediately renovate, design, and lease 21 apartment units in an extremely desirable rental location. The Property is anticipated to be stabilized around a PROJECTED 5.85% Cap Rate post-renovations. The Property will be delivered with RTI Permits to convert the building from the existing 17 units to a permitted 21 units...We are pleased to present for sale a VACANT, prime Silver Lake Multifamily building just one block from Sunset Junction. This investment opportunity offers a buyer the ability to immediately renovate, design, and lease 21 apartment units in an extremely desirable rental location. The Property is anticipated to be stabilized around a PROJECTED 5.85% Cap Rate post-renovations. The Property will be delivered with RTI Permits to convert the building from the existing 17 units to a permitted 21 units (20 units + 1 ADU) with an excellent unit mix and large floor plans. There are 18 on-site parking spaces and secure storage for 12 bicycles. Located across the street from a new 100-unit apartment development coming soon and less than 1 mile from the Kaiser and Children's Hospitals as well as Metro stations, Vermont/Santa Monica & Vermont/Sunset. Buyer to independently investigate the accuracy of all information provided.
  1. Listed by Alexander Metaxas • DRE #01784652 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Brian Rivera • DRE #01992630 • Brokerage DRE #00625769 • Compass

Property Details for 1185 Myra Avenue

Zoning
LAR4
Cross Streets
Sunset Blvd. and Fountain Ave.
Parcel Number
5429008023
Total Units
21.0
Living Area
19573
Source Living Area
Assessor
Area
Silver Lake (671)
Vacancy Rate
100

Location

Listing Courtesy of Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Compass, Brian Rivera, DRE #01992630

Sold By Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Compass, Brian Rivera, DRE #01992630

Add your commute
LISTING UPDATED: 04/20/2021 09:18 AM

Property Details for 1185 Myra Avenue

StatusSold
MLS #20-586460
Days on Market38
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.30 AC / 13,194 SF
CountyLos Angeles County

Location

Listing Courtesy of Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Compass, Brian Rivera, DRE #01992630

Sold By Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Compass, Brian Rivera, DRE #01992630

Add your commute

Building Information for 1185 Myra Avenue

Stories3Residences-Year Built1964Building Size-Lot Size0.30 AC / 13,194 SF

Payment Calculator

$44,707 per month

30 year fixed, 7.25% Interest

Principal and Interest

$37,383

Property Taxes

$7,324

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1185 Myra Avenue

Community / Development
Community / Development
  • Number Of Units: 21
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • View: Yes
  • View Description: Mountains, City
  • View: Mountain(s), City Lights
  • Property Condition: Fixer, Repairs Major
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $691,410
  • Net Operating Income: $503,338.00
  • Gross Income: $727,800
  • Cap Rate: 7.12%
  • Gross Rent Multiplier: $10.12
  • Owner Pays: Water, Gardener, Other
  • Total Annual Expense: 188072
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3029
  • Lot Size Square Feet: 13194
  • Geocode Override: 0.0
Parking Details
Parking Details
  • Parking Garage: Covered Parking, Gated, Uncovered
  • Total Parking: 18
  • Parking Features: Covered, Gated, Uncovered
Interior Features
Interior Features
  • Levels: Three Or More
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
  • Common Walls: Attached
Exterior Features
Exterior Features
  • Patio Features: Balcony
  • Entry Location: Elevator
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-02-2020
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,450.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,450.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,400.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,400.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,350.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,350.00
  • Like Units: 4
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,250.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,250.00
  • Like Units: 2
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 6
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 2
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,050.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,050.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $468,975.00
  • Assessed Improvement Percent: 88.88
  • Assessed Land Value: $58,704.00
  • Assessed Land Percent: 11.12
  • Assessed Total Value: $527,679.00

Property History for 1185 Myra Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1185 Myra Avenue

Taxable ValueLand$4,161,600Additions$2,965,540Total$7,127,140
Tax Record2023$87,888 ($7,324 / month)
Home Facts
Total Finished SqFt19,573 SqFtAbove Grade Finished SqFt19,573 SqFtLot Size13,194 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR4CountyLOS ANGELESAPN5429-008-023

Schools near 1185 Myra Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - K to 2
Rating
School
Distance
Lockwood Avenue Elementary School
PublicK to 6

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Lexington Avenue Primary Center
PublicK to 2

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Compass, Brian Rivera, DRE #01992630

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.