REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,435,000
Est. payment /mo
Price Dropped by $115K
422 Parkman Los Angeles, CA 90026
5,458 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26058411
HOA Y/N No
Year Built 1996
Lot Size 5,458 Sqft
Property Sub-Type Apartment
Property Description
Situated on a quiet cul-de-sac in Silver Lake, 422 Parkman Ave presents a well-located duplex opportunity in one of Los Angeles' most sought-after rental markets. The property consists of two spacious 3-bedroom / 2-bath units totaling approximately 2,548 square feet of rentable space on a 5,459 square foot lot. It was built in 1996 so it is not subject to LA City Rent Control, it is only subject to AB 1482 statewide rent control.
The upstairs unit has been newly renovated, creating an excellent opportunity for an owner-user to occupy one unit while generating income from the other. The unit features high ceilings, abundant natural light, and in-unit laundry, providing a comfortable and functional living environment. The lower unit provides stable in-place income with additional rental upside over time.
The property includes a rear parking area with multiple spaces, offering convenient off-street parking for tenants. With strong existing income and the potential to capture market rents, the property presents both immediate cash flow and long-term value growth.
Currently offering a 5.19% CAP rate and 13.49 GRM on current income, with a projected 6.11% market CAP and 11.96 market GRM, 422 Parkman Ave represents an attractive investment opportunity in a high-demand Silver Lake submarket known for its strong renter demand and proximity to major employment centers throughout Los Angeles.
The upstairs unit has been newly renovated, creating an excellent opportunity for an owner-user to occupy one unit while generating income from the other. The unit features high ceilings, abundant natural light, and in-unit laundry, providing a comfortable and functional living environment. The lower unit provides stable in-place income with additional rental upside over time.
The property includes a rear parking area with multiple spaces, offering convenient off-street parking for tenants. With strong existing income and the potential to capture market rents, the property presents both immediate cash flow and long-term value growth.
Currently offering a 5.19% CAP rate and 13.49 GRM on current income, with a projected 6.11% market CAP and 11.96 market GRM, 422 Parkman Ave represents an attractive investment opportunity in a high-demand Silver Lake submarket known for its strong renter demand and proximity to major employment centers throughout Los Angeles.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Interior
Fireplace No
Laundry Inside
Exterior
Parking Features On Site
Pool None
Community Features Biking
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5401025033
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Brett Lyon Lyon Stahl Investment Real Estate, Inc. 3107801899, DRE #01717818
NEARBY SCHOOLS & PROPERTIES