Silver Lake, CA 90029,979 Manzanita Street
Listed by Warren Berzack • Lee & Associates
Bought with John Kim • JYK Commercial Realty, Inc.

$1,450,000

Est. payment /mo

$1,595,000

9.1%
Est.Price: ?

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979 Manzanita Street Silver Lake, CA 90029

4,619 SqFt

SOLD DATE : 03/23/2023

Key Details

Sold Price $1,450,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 4,619 sqft

Price per Sqft $313

MLS Listing ID CRSR23000365

Sold Date 03/23/23

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1962

Lot Size 7,441 Sqft

Property Description

This property current has a total of 6 units and is located in prime Silver Lake, California. There are three structures on a total of 7,440 square feet. The current total building square footage is 4,619 and offers one- and two-bedroom apartment homes in a variety of floor plans. Three units are vacant and already gutted for a potential remodel. The buildings are in the process of utilizing the Ellis Act for the other three occupied units, but that has been on hold through the Pandemic. It is the owner’s understanding that this can recommence in Q1 2023. Or alternatively the process can be reversed if a Buyer decides to simply remodel and reposition the property. Some retrofit work is required. * Phenomenal Silver Lake Location * Tremendous Views & Potential Upside * Major Reposition or Redevelopment Opportunity * R3-1VL LA City Zoning with Tier 3 TOC (16 unit max density)

Location

State CA

County Los Angeles

Interior

Fireplace No

Laundry No Hookups

Exterior

Parking Type Assigned

Building

Lot Description Sloped Down

Water Public

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Bay East AOR and Contra Costa AOR

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Alessandra Imanabadi

Broker/ Realtor | License ID: 01390368 NMLS Lic.# 328245

+1(510) 504-2528

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