Redcliff Retreat | 1651 Redcliff St
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Redcliff Retreat 1651 Redcliff St
6 Unit Apartment Building $5,150,000 ($858,333/Unit) 6.01% Cap Rate Los Angeles, CA 90026
Investment Highlights
- Prime Location
- Renovated or Newly Constructed Units
- Diverse Unit Mix
- ADU Under Construction
Executive Summary
Welcome to 1651 Redcliff Street, an amazing 6-unit property nestled in the heart of Silver Lake (90026), a highly sought-after neighborhood in Los Angeles. The property offers a diverse unit mix, comprising a 1927-built front house with 4 bedrooms and 3.5 baths, a triplex built in 1964 with three 2-bedroom, 2-bath units, and a newly constructed duplex featuring two 6-bedroom, 4.5-bathroom units with rooftop decks and stunning views. All units have been beautifully renovated or are newly constructed, commanding top-of-the-market rents. There are RTI plans for a storage room to be converted into a spacious (+/-) 731 square foot Accessory Dwelling Unit (ADU). Featuring sunlit interiors with hardwood floors and carefully crafted architectural details, these units provide a warm and welcoming ambiance. Each unit boasts spacious bedrooms, updated kitchens with stainless steel appliances, stylish bathrooms, central AC, in-unit laundry, and private outdoor spaces in some units. Situated on a 16,736 square foot lot, aside from the newly constructed duplex, all units have undergone gut-level renovations, ensuring a modern living experience while preserving their timeless charm. Additionally, all units are separately metered for gas and electric, with parking available for 10+ vehicles. The property's prime location in Silver Lake offers proximity to cafes, entertainment venues, and lifestyle amenities such as Intelligentsia, Erewhon, Edendale, Forage, Michelangelo Ristorante, Ivanhoe Restaurant, Burgers Never Say Die, Whole Foods, and Trader Joe's. With DTLA, Los Feliz, and Hollywood just a short drive away, residents have access to countless dining and shopping options. Positioned in the thriving Silver Lake-Hollywood submarket, 1651 Redcliff presents an ideal investment opportunity for apartment operators seeking immediate returns and long-term wealth preservation through stable rental income and potential property appreciation. Its outstanding location, robust income metrics, and potential for future rental income growth make it an attractive asset. Buyer's responsibility includes verifying all zoning regulations and building feasibility with the Los Angeles Department of Building and Safety (LADBS) and other relevant city departments. To obtain further details or to arrange a showing, please contact the listing agent.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2024) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $5,150,000 | Apartment Style | Townhome |
Price Per Unit | $858,333 | Building Class | B |
Sale Type | Investment | Lot Size | 0.38 AC |
Cap Rate | 6.01% | Building Size | 10,138 SF |
Gross Rent Multiplier | 12.12 | Average Occupancy | 100% |
No. Units | 6 | No. Stories | 3 |
Property Type | Multifamily | Year Built/Renovated | 1956/2024 |
Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
Price | $5,150,000 |
Price Per Unit | $858,333 |
Sale Type | Investment |
Cap Rate | 6.01% |
Gross Rent Multiplier | 12.12 |
No. Units | 6 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Townhome |
Building Class | B |
Lot Size | 0.38 AC |
Building Size | 10,138 SF |
Average Occupancy | 100% |
No. Stories | 3 |
Year Built/Renovated | 1956/2024 |
Parking Ratio | 0.99/1,000 SF |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
4+3 | 1 | $6,500 | 1,900 |
2+2 | 3 | $4,200 | 952 |
6+4.5 | 2 | $8,150 | 2,690 |
Studios | 1 | $3,000 | 731 |
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Walk Score ®
Very Walkable (88)
PROPERTY TAXES
Parcel Number | 5425-001-049 | Improvements Assessment | $625,804 |
Land Assessment | $1,763,634 | Total Assessment | $2,389,438 |
PROPERTY TAXES
Parcel Number
5425-001-049
Land Assessment
$1,763,634
Improvements Assessment
$625,804
Total Assessment
$2,389,438
zoning
Zoning Code | LAR2 |
LAR2 |
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Redcliff Retreat | 1651 Redcliff St
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