Estimation provided by Keller Williams Realty Inc.
47 Beds
57 Baths
45,378
sq ft
1.02
ac
Active
For Sale
Property Description
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.
Assessed Value is a combination of the land and additions.
2023
$29,272
(+4.24%)
$2,012,518
Land 460,420 +
Additions 1,552,098
2022
$28,080
(+2.2%)
$1,934,896
Land 442,543 +
Additions 1,492,353
2021
$27,477
(+2.72%)
$1,934,896
Land 442,543 +
Additions 1,492,353
2019
$26,748
(+3.28%)
$1,901,696
Land 438,006 +
Additions 1,463,690
2017
$25,898
$1,827,853
Land 420,999 +
Additions 1,406,854
The Property History data displayed is obtained from public records and/or MLS feeds from the local jurisdiction in which the applicable property is located. As kw.com cannot guarantee that all public records and MLS data is accurate and error-free, it is important that you contact your agent directly in order to obtain the most up-to-date information available.
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