2641 Riverside Terrace

2641 Riverside Terrace

Los Angeles, CA 90039

$2,195,000
Price
6
Beds
7
Baths
2,458 Sq. Ft.
$893 / Sq. Ft.
2,458
Sq. Ft.
$893
per Sq. Ft.
an aerial view of multiple house
front view of a house
a view of a patio with table and chairs and potted plants
a kitchen with a refrigerator and a sink
a kitchen with stainless steel appliances a refrigerator sink and microwave
wooden floor in an empty room with a window
a bathroom with a toilet sink vanity and shower
a view of a big room with wooden floor and windows
a bathroom with a granite countertop toilet sink and shower
a view of an empty room with wooden floor and a window
a view of empty room with wooden floor and fan
a view of livingroom with natural light and hardwood floor
a view of an empty room with wooden floor and a window
a view of a porch
a view of entryway with a front door
a view of kitchen with stainless steel appliances refrigerator oven and cabinets
a white refrigerator freezer sitting inside of a kitchen
a bathroom with a sink toilet and shower
wooden floor in an empty room with a window
a view of a room with wooden floor and a sink
a backyard of a house with table and chairs
a table and chairs in the patio
a view of a chairs and table in backyard
a view of a kitchen with a sink and a stove top oven
a kitchen with cabinets and appliances
a kitchen with a refrigerator and white cabinets
a bathroom with a sink a toilet and a mirror
a view of balcony with furniture and potted plants
a view of a room with gym equipment
a view of entryway
a utility room with dryer and washer
an aerial view of multiple house
an aerial view of residential houses with outdoor space and trees all around
an aerial view of residential houses with outdoor space
an aerial view of multiple houses with yard
a view of a city
an aerial view of multiple houses with outdoor space

Description

KW Commercial proudly presents 2641 Riverside Terrace, an exquisite bungalow-style apartment community comprising six units, ideally situated in the highly sought-after Silver Lake neighborhood of Los Angeles. This unique property offers a diverse unit mix, including a spacious 3-bedroom/2-bathroom unit, three comfortable 1- bedroom units, and two charming single units. Parking is provided with three 1-car garages. Each unit in this meticulously maintained building showcases a distinctive layout...KW Commercial proudly presents 2641 Riverside Terrace, an exquisite bungalow-style apartment community comprising six units, ideally situated in the highly sought-after Silver Lake neighborhood of Los Angeles. This unique property offers a diverse unit mix, including a spacious 3-bedroom/2-bathroom unit, three comfortable 1- bedroom units, and two charming single units. Parking is provided with three 1-car garages. Each unit in this meticulously maintained building showcases a distinctive layout and design, seamlessly blending vintage charm with modern amenities. These units feature updated kitchens equipped with stainless steel appliances, and stylish bathrooms. The inclusion of mini split air conditioning units ensures highly efficient heating and cooling in each unit. A standout feature of this property is the private enclosed outdoor spaces, offering tenants a tranquil retreat for relaxation and entertainment. Sitting on a 4,800 square foot lot, this 1921 property underwent a comprehensive renovation in 2020, both inside and out. The renovation included new flooring, kitchens, bathrooms, tile work, hardscaping, stucco, and more, ensuring a modern living experience while preserving its timeless charm. The property is situated in Silver Lake, surrounded by cafes, entertainment venues, and lifestyle amenities such as Intelligentsia, Erewhon, Edendale, Forage, Michelangelo Ristorante, Ivanhoe Restaurant, Burgers Never Say Die, Cafe Stella, Whole Foods, and Trader Joes. Countless dining and shopping options are just a short distance away, with DTLA, Los Feliz, and Hollywood a short drive away. Electrical utilities are separately metered and paid by the tenants, while water and gas expenses are covered by the owner. Given its prime location and robust income metrics, 2641 Riverside Terrace presents an ideal investment opportunity for apartment operators seeking immediate returns and long-term wealth preservation, with the potential for future rental income growth.
  1. Listed by Archie Robb • DRE #02002291 • Brokerage DRE #00686739 • Keller Williams Realty La Canada Flintridge
  2. Listed by Rich Johns • DRE #01432215 • Brokerage DRE #01458187 • KW Commercial Studio City

Property Details for 2641 Riverside Terrace

Zoning
LAR2
Style
California Bungalow
Parcel Number
5438002006
Total Units
6.0
Living Area
2458
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
0

Location

Listing Courtesy of Keller Williams Realty La Canada Flintridge, Archie Robb, DRE #02002291; KW Commercial Studio City, Rich Johns, DRE #01432215
Add your commute
LISTING UPDATED: 04/24/2024 12:01 AM

Property Details for 2641 Riverside Terrace

StatusActive
MLS #24-380751
Days on Market18
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1921
Lot Size0.11 AC / 4,800 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Realty La Canada Flintridge, Archie Robb, DRE #02002291; KW Commercial Studio City, Rich Johns, DRE #01432215
Add your commute

Building Information for 2641 Riverside Terrace

Stories2Residences-Year Built1921Building Size-Lot Size0.11 AC / 4,800 SF

Payment Calculator

$14,166 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,979

Property Taxes

$2,187

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2641 Riverside Terrace

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 4
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $166,710
  • Net Operating Income: $126,260.00
  • Gross Income: $170,112
  • Cap Rate: 5.75%
  • Gross Rent Multiplier: $12.90
  • Total Annual Expense: 40450
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1102
  • Lot Size Square Feet: 4800
Parking Details
Parking Details
  • Parking Garage: Garage - 1 Car
  • Total Parking: 3
  • Garage Spaces Total: 3
  • Parking Features: Garage - Single Door
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Hardwood, Vinyl Plank, Tile
  • Equipment: Ceiling Fan, Dishwasher, Hood Fan, Refrigerator, Range/Oven
  • Interior Features: Ceiling Fan(s)
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-16-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,986.00
  • Unit Actual Rent: $3,972.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,161.00
  • Unit Actual Rent: $6,484.00
  • Unit Projected Rent: $6,500.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,570.00
  • Unit Actual Rent: $3,570.00
  • Unit Projected Rent: $4,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $549,397.00
  • Assessed Improvement Percent: 25.84
  • Assessed Land Value: $1,576,767.00
  • Assessed Land Percent: 74.16
  • Assessed Total Value: $2,126,164.00

Property History for 2641 Riverside Terrace

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2641 Riverside Terrace

Taxable ValueLand$1,576,767Additions$549,397Total$2,126,164
Tax Record2023$26,244 ($2,187 / month)
Home Facts
Total Finished SqFt2,458 SqFtAbove Grade Finished SqFt2,458 SqFtLot Size4,800 SqFtStyleMulti-Family Res (5+ Units)Year Built1921ZoningLAR2CountyLOS ANGELESAPN5438-002-006

Schools near 2641 Riverside Terrace

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Allesandro Elementary School
Public - K to 6
Renaissance Arts Academy
Charter - K to 12
John Marshall Senior High School
Public - 9 to 12
Puc Early College Academy For Leaders And Scholars (Ecals)
Charter - 9 to 12
Rating
School
Distance
Allesandro Elementary School
PublicK to 6

Renaissance Arts Academy
CharterK to 12

John Marshall Senior High School
Public9 to 12

Puc Early College Academy For Leaders And Scholars (Ecals)
Charter9 to 12

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.

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More information about 2641 Riverside Terrace, Los Angeles, CA 90039

2641 Riverside Terrace is a multi-family home for sale in Los Angeles, CA 90039. This property was listed for sale on April 16, 2024 by Keller Williams Realty La Canada Flintridge, it's currently listed at $2,195,000. It has been on the market for a total of 18 days and was last sold on August 19, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Allesandro Elementary School, Renaissance Arts Academy and John Marshall Senior High School. 2641 Riverside Terrace is a 6-bed, 7-bath, 2,458 sqft multi-family home built in 1921.

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 Keller Williams Realty La Canada Flintridge, Archie Robb, DRE #02002291; KW Commercial Studio City, Rich Johns, DRE #01432215

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.