2641 Riverside Terrace
Los Angeles, CA, 90039 $ 2,195,000
Bedrooms6 Baths7.0 Sq 2,458 Monthly Estimate*
$ 15,333
Listed by Keller Williams Realty La Canada Flintridge
for $2,195,000 with 6 bedrooms and 7 full baths. This 2,458 square foot home was built in 1921 on a lot size of 0.1102.
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.
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FeaturesGeneralInterior Features CeilingFans
Heating WallFurnace
Appliances Dishwasher Refrigerator
Zoning LAR2
Garage Spaces 3.0
Year Built 1921
Stories 2
Levels Two
Gross Income 170112.0
County Los Angeles
Net Operating Income 126260.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Google Maps.
City Los Angeles
View Y/N N
Senior Community Y/N N
Total Units 6
MLS Area C21 - Silver Lake - Echo Park
Lot Size Square Feet 4800.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Riverside
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 8
Standard Status Active
Cap Rate 5.75
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InteriorFlooring Tile Wood
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Terrace
Total Bedrooms 6
Electric On Property Y/N N
Total Baths 7
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ExteriorParking Features DoorSingle Garage
Total Parking 3.0
Lot Size Area 4800.0
Number of Buildings 4
Spa N
Building Area Total 2458.0
Lot Size Acres 0.1102
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByKeller Williams Realty La Canada FlintridgeBroker
Affordability Calculator
- Monthly Principal & Interest
- $15,333
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $2,002,074
Percent of Sale Price 9%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/16/2024 | $2,195,000 | | Listed Price |