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Jessica Panzica

jessica@jessicapanzica.com +1(714) 313-8193

$1,400,000

Est. payment - /mo

5,458 Sqft Lot

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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 5.34% CAP rate and 13.16 GRM on current income, with a projected 6.29% market CAP and 11.67 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

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Listed by Brett Lyon Lyon Stahl Investment Real Estate, Inc. 3107801899, DRE #01717818

Nearby School & Business

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Jessica Panzica

+1(714) 313-8193

Agent | License ID: 01854556

Agent License ID: 01854556

422 Parkman Los Angeles, CA 90026

Jessica Panzica

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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