906-912 North Virgil Avenue

906 N Virgil Ave, Los Angeles, CA 90029, USA

For Sale

$4,495,000

Property Description

Marcus and Millichap is pleased to present a sixteen (16) unit apartment building located at 906-912 N Virgil Avenue in Los Angeles, California. The subject property is situated in a prime Virgil Village location one block outside of Silver Lake, south of Santa Monica Boulevard and east of North Vermont Avenue.

Silver Lake is an Eastside neighborhood that fully embraces the hipster lifestyle. Although often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir that is ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, in close proximity to Hollywood and Downtown Los Angeles and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene. Residents also enjoy the easy access to sought-after outdoor spaces such as Silver Lake Meadows, Silver Lake Dog Park, Barnsdall Art Park, Bellevue Park Basketball Courts, Echo Park, and Elysian Park. The famous Elysian Park is home to Secret Swing Angels Point, Dodger Stadium, Victory Memorial Grove, Radio Hill, and is adjacent to Los Angeles State Historic Park.

Built in 1926, this property contains a streamlined unit mix of sixteen (16) large one bedroom / one bathroom units spread across two (2) lots. The separate lots have eight (8) units each, so there is no need for a on-site manager. Situated in an opportunity zone, the property features a brand new roof completed in 2022, a completely redone foundation, fully repiped plumbing, and a secure gating system. Seven (7) of the units are fully renovated with new in-unit washer/dryers, and all units have access to the incredible center courtyard. Tenants will love being within walking distance so some of the trendiest restaurant, retail, and entertainment amenities across North Virgil Village and Silver Lake. Some of these amenities include Alma’s Cider & Beer right next door, Bolita, Virgil Normal, Erewhon Market, The Black Cat, Bacari Silverlake + Bar Bacari, Pine and Crane, and many more. Outdoor recreation is also available less than half a mile away at the Bellevue Recreaion Center and Park. Residents of this building have central access to all that Los Angeles has to offer.

Situated in a prime Virgil Village location one block outside of Silver Lake, this offering presents an excellent opportunity for any investor to capitalize on nearly 60% rental upside potential in a core market of Los Angeles.

Contact Agent

Jason Tuvia / Josh Yeager

818.212.2735

Unit Mix

Sixteen (16) One Bedroom / One Bathroom Units

Property Type

Multifamily

Submarket

Price

Size

11,588 SF

Total Units

Year Built

1926

Property Location

906 N Virgil Ave, Los Angeles, CA 90029, USA

Property Description

Marcus and Millichap is pleased to present a sixteen (16) unit apartment building located at 906-912 N Virgil Avenue in Los Angeles, California. The subject property is situated in a prime Virgil Village location one block outside of Silver Lake, south of Santa Monica Boulevard and east of North Vermont Avenue.

Silver Lake is an Eastside neighborhood that fully embraces the hipster lifestyle. Although often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir that is ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, in close proximity to Hollywood and Downtown Los Angeles and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene. Residents also enjoy the easy access to sought-after outdoor spaces such as Silver Lake Meadows, Silver Lake Dog Park, Barnsdall Art Park, Bellevue Park Basketball Courts, Echo Park, and Elysian Park. The famous Elysian Park is home to Secret Swing Angels Point, Dodger Stadium, Victory Memorial Grove, Radio Hill, and is adjacent to Los Angeles State Historic Park.

Built in 1926, this property contains a streamlined unit mix of sixteen (16) large one bedroom / one bathroom units spread across two (2) lots. The separate lots have eight (8) units each, so there is no need for a on-site manager. Situated in an opportunity zone, the property features a brand new roof completed in 2022, a completely redone foundation, fully repiped plumbing, and a secure gating system. Seven (7) of the units are fully renovated with new in-unit washer/dryers, and all units have access to the incredible center courtyard. Tenants will love being within walking distance so some of the trendiest restaurant, retail, and entertainment amenities across North Virgil Village and Silver Lake. Some of these amenities include Alma’s Cider & Beer right next door, Bolita, Virgil Normal, Erewhon Market, The Black Cat, Bacari Silverlake + Bar Bacari, Pine and Crane, and many more. Outdoor recreation is also available less than half a mile away at the Bellevue Recreaion Center and Park. Residents of this building have central access to all that Los Angeles has to offer.

Situated in a prime Virgil Village location one block outside of Silver Lake, this offering presents an excellent opportunity for any investor to capitalize on nearly 60% rental upside potential in a core market of Los Angeles.

Contact Agent

Jason Tuvia / Josh Yeager

818.212.2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Sixteen (16) One Bedroom / One Bathroom Units

Property Details

Property Type

Multifamily

Submarket

Virgil Village (Silver Lake)

Price

$4,495,000

Price per Unit

$280,938

Price per SF

$387.90

Status

For Sale

Size

11,588 SF

Total Units

16

Year Built

1926

Property Location

906 N Virgil Ave, Los Angeles, CA 90029, USA