3432 Larissa Dr
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3432 Larissa Dr
3 Unit Apartment Building $2,413,507 CAD ($804,502 CAD/Unit) 6.02% Cap Rate Los Angeles, CA 90026
Investment Highlights
- Prime Silverlake/Echo Park Market
- 1 UNIT DELIVERED VACANT
- Rare Cash Cow Opportunity
Executive Summary
2432 Larissa Dr offers three units ideally located in the highly exclusive Silverlake/Echo Park market centrally located near Echo Park, Hollywood Bowl, The Grove, and a multitude of entertainment/ restaurant options. This offering consists of two (2) 2BD/1BTH units and one (1) 1BD/1BTH. One of the 2BD/1BTH units will be delivered VACANT. This rare triplex sits on 6,654 SF of land with 3,352 SF of rentable residential space and a three-car garage which brings in an extra $22,800 of ancillary annual income. This triplex provides a rare opportunity for an owner user to live in one of the units and have the rental income offset their mortgage. Or an opportunistic investor looking for a high cap rate multi-unit residential deal
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$186,741
|
$55.71
|
| Other Income |
$32,853
|
$9.80
|
| Vacancy Loss |
$6,588
|
$1.97
|
| Effective Gross Income |
$213,005
|
$63.55
|
| Taxes |
$30,170
|
$9.00
|
| Operating Expenses |
$37,602
|
$11.22
|
| Total Expenses |
$67,771
|
$20.22
|
| Net Operating Income |
$145,234
|
$43.33
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $186,741 |
| Annual Per SF | $55.71 |
| Other Income (CAD) | |
|---|---|
| Annual | $32,853 |
| Annual Per SF | $9.80 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,588 |
| Annual Per SF | $1.97 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $213,005 |
| Annual Per SF | $63.55 |
| Taxes (CAD) | |
|---|---|
| Annual | $30,170 |
| Annual Per SF | $9.00 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $37,602 |
| Annual Per SF | $11.22 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $67,771 |
| Annual Per SF | $20.22 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $145,234 |
| Annual Per SF | $43.33 |
Property Facts
| Price | $2,413,507 CAD | Property Subtype | Apartment |
| Price Per Unit | $804,502 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.02% | Building Size | 3,352 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 66% |
| Gross Rent Multiplier | 10.99 | No. Stories | 1 |
| No. Units | 3 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 0.89/1,000 SF |
| Price | $2,413,507 CAD |
| Price Per Unit | $804,502 CAD |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 10.99 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,352 SF |
| Average Occupancy | 66% |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 0.89/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,441 CAD | - |
| 2+1 | 1 | $7,204 CAD | - |
| 2+1 | 1 | $6,916 CAD | - |
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Walk Score ®
Walker's Paradise (96)
zoning
| Zoning Code | LARD1.5 (3 Units (Any Combination) - RD1.5-1VL (Tier 1 TOC)) |
| LARD1.5 (3 Units (Any Combination) - RD1.5-1VL (Tier 1 TOC)) |
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