Detailed Introduction Of This Home
Six units on huge 9,920 sf lot. LOCATION, LOCATION! Extraordinary opportunity for development or investment! This Silver Lake neighborhood has begun an early, entry-level phase of gentrification (last month Target & CVS opened several blocks away), providing real estate-savvy investors with a potential excellent short-term or long-term upside investment opportunity.
Prime corner lot location in a quiet residential Silver Lake neighborhood with relaxed traffic flow and uncongested streets, creating a comfortable an desirable living environment. Property is on the NW corner of Ellsworth St. & Robinson St. Six units in two buildings – 6,928 sf. One building has (2) three bedroom, two bath units. Second building has (2) two bedroom, one bath units and (2) one bedroom, one bath units.
**INVESTORS** This six-unit income property has well below market rents, presenting significant upside rent potential.
**DEVELOPERS** Potential Small Lot Development, similar to recent, nearby developments on Hyperion Ave. and Lucile Ave. Check with city as to the viability and possibility of Small Lot Development. As a possible development opportunity, buyer must verify ability to build to their own satisfaction.
Buyer can purchase this property now for income/investment, develop the property themselves in the future or sell to a developer in the future.