743 N Occidental Blvd, Los Angeles, CA 90026

Property Description

The Occidental, located at 743 North Occidental Boulevard in the sophisticated hip Silver Lake neighborhood of Los Angeles, is a five-unit 1920s vintage multifamily community. The property is comprised of four separate structures, combining two Spanish-style one-bedroom casitas with a free-standing one-bedroom house and two apartment units with two-bedrooms and one-bathroom each. The total living area of all units is 3,560 square feet on a 7,100 square foot lot. With four structures, there is only one shared wall among the five units, providing tenants with a sense of quiet and privacy. In addition, the free-standing house unit in the center of the property, can be fenced off creating a luxuriously private patio garden space in the middle of the community. Four of the units feature original hardwood flooring, while the free-standing house has carpet, likely over original hardwood floors. All units offer individual water heaters, in-unit laundry hook-up, and are separately metered for gas and electricity. An additional property amenity is the five garage parking spaces access from the rear alley. The property will be delivered with three units vacant at closing, providing a new value-add-focused investor the immediate opportunity to realize market rents and a high stabilized yield through renovation and updating of the interiors.