2916 Marathon StLos Angeles, CA 90026

This exceptional 5-unit apartment building presents a compelling value-add opportunity in the highly desirable Silver Lake neighborhood of Los Angeles, CA. The property, located at 2916 Marathon St and 756 Parkman Ave, boasts a charming Spanish-style architectural design, featuring a four-plex and a separate cottage. The four-plex units each offer one bedroom and one bathroom, complete with hardwood floors, arched doorways, in-unit laundry, and French multi-paned windows. The cottage unit provides two bedrooms, one bathroom, a bonus garage-studio space, and three decks. The property sits on a 7,783 sq ft lot and encompasses a total of 4,468 sq ft of living space. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $139,150, with a pro-forma NOI projected at $193,878, representing a 5.46% current cap rate and a 7.60% pro-forma cap rate. The asking price is $2,550,000, or $510,000 per unit. The property features assigned detached garages and alley parking, along with a serene courtyard with a mosaic fountain. Its prime location offers easy access to Silver Lake's vibrant amenities, including restaurants, shops, and recreational areas like Silver Lake Reservoir and Griffith Park. The property is zoned RD1.5 and was built in 1921. The sale is structured as a 1031 exchange, and the property is sold "as is." Buyer is responsible for adhering to the seller's 1031 exchange closing timeline. Do not disturb occupants.