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2641 Riverside Terrace, Los Angeles, CA 90039
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2641 Riverside Terrace Los Angeles, CA 90039

$2,195,000
  • 6 Beds
  • 7 Baths
  • 2,458 Sq.Ft.
For Sale
$2,195,000 Get Pre-Qualified
Map preview of 2641 Riverside Terrace, Los Angeles, CA 90039

Property Overview: 2641 Riverside Terrace Los Angeles, CA has 6 bedrooms, 7 bathrooms, 2,458 living square feet and 4,800 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: KW Commercial proudly presents 2641 Riverside Terrace, an exquisite bungalow-style apartment community comprising six units, ideally situated in the highly sought-after Silver Lake neighborhood of Los Angeles. This unique property offers a diverse unit mix, including a spacious 3-bedroom/2-bathroom unit, three comfortable 1- bedroom units, and two charming single units. Parking is provided with three 1-car garages. Each unit in this meticulously maintained building showcases a distinctive layout and design, seamlessly blending vintage charm with modern amenities. These units feature updated kitchens equipped with stainless steel appliances, and stylish bathrooms. The inclusion of mini split air conditioning units ensures highly efficient heating and cooling in each unit. A standout feature of this property is the private enclosed outdoor spaces, offering tenants a tranquil retreat for relaxation and entertainment. Sitting on a 4,800 square foot lot, this 1921 property underwent a comprehensive renovation in 2020, both inside and out. The renovation included new flooring, kitchens, bathrooms, tile work, hardscaping, stucco, and more, ensuring a modern living experience while preserving its timeless charm. The property is situated in Silver Lake, surrounded by cafes, entertainment venues, and lifestyle amenities such as Intelligentsia, Erewhon, Edendale, Forage, Michelangelo Ristorante, Ivanhoe Restaurant, Burgers Never Say Die, Cafe Stella, Whole Foods, and Trader Joes. Countless dining and shopping options are just a short distance away, with DTLA, Los Feliz, and Hollywood a short drive away. Electrical utilities are separately metered and paid by the tenants, while water and gas expenses are covered by the owner. Given its prime location and robust income metrics, 2641 Riverside Terrace presents an ideal investment opportunity for apartment operators seeking immediate returns and long-term wealth preservation, with the potential for future rental income growth.

Listed by Archie Robb | BRE #02002291 | Keller Williams Realty La Canada Flintridge
Co-listed by Rich Johns | BRE #01432215 | KW Commercial Studio City
Last checked: 4 minutes ago | Last updated: April 24th, 2024 | Source CRMLS | DOM: 16
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Home details

Lot Sq. Ft
4,800
HOA Dues
$0/mo
Year built
1921
Garage
3 Car
Property Type:
Multi Family
Status
Active
MLS#
24380751
City
Los Angeles
County
Los Angeles
Time on Site
16 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 4
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,986
  • Total Rent: $3,972
  • Pro Forma/Market Rent: $4,000
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,161
  • Total Rent: $6,484
  • Pro Forma/Market Rent: $6,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,570
  • Total Rent: $3,570
  • Pro Forma/Market Rent: $4,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.75%
  • Gross Rent Multiplier: 12.9
  • Gross Scheduled Income: --
  • Net Operating Income: $126,260
  • Gross Operating Income: $166,710
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 2641 Riverside Terrace

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Room Information
  • Flooring: Wood, Tile
Kitchen Information
  • Has Appliances
  • Dishwasher, Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
  • Has Parking
  • Parking Features: Garage - Single Door
Property Information
  • Total # of Units: 6
  • Parcel Number: 5438002006
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Google Maps.
View more facts & features

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Sale History for 2641 Riverside Terrace

Last leased for $1,650 on May 13th, 2020

  • April, 2024

  • Apr 16, 2024

    Date

    Active

    CRMLS: 24380751

    $2,195,000

    Price

  • March, 2024

  • Mar 20, 2024

    Date

    Expired

    CRMLS: 23313403

    $2,195,000

    Price

  • Sep 25, 2023

    Date

    Active

    CRMLS: 23313403

    $2,195,000

    Price

  • Listing provided courtesy of CRMLS

  • September, 2023

  • Sep 6, 2023

    Date

    Canceled

    CRMLS: 23269225

    $2,295,000

    Price

  • May 15, 2023

    Date

    Active

    CRMLS: 23269225

    $2,295,000

    Price

  • Listing provided courtesy of CRMLS

    Welcome to the heart of hipster Silver Lake! This remarkable 6-unit apartment building offers a rare opportunity for savvy investors seeking a solid cap rate and realistic achievable upside in one of Los Angeles' most desirable neighborhoods. With its captivating bungalow-style units and private enclosed outdoor spaces, this property exudes character and charm that will surely captivate potential tenants.Each unit within this meticulously maintained building boasts a unique layout and design, blending vintage appeal with modern conveniences. The floor plans feature an abundance of natural light, hardwood floors, and thoughtful architectural details, creating an inviting atmosphere for residents. These well-appointed units offer comfortable living spaces, including cozy bedrooms, updated kitchens with stainless steel appliances, and stylish bathrooms. Mini split units provide very efficient heating and cooling in each unit. One of the standout features of this property is the private enclosed outdoor spaces, providing a serene retreat for tenants to relax and to entertain. Imagine the delightful morning coffees enjoyed on the charming front porches or the memorable evenings spent under the stars in the secluded backyard patios. These private sanctuaries perfectly complement the Silver Lake lifestyle and will surely appeal to potential tenants seeking a tranquil oasis within the bustling city. The location of this property is unbeatable, nestled in the trendy Silver Lake neighborhood known for its vibrant culture, artistic community, and eclectic dining and shopping options. Enjoy easy access to popular hotspots such as Sunset Junction, Silver Lake Reservoir, and the thriving nightlife on Sunset Boulevard. The area is also renowned for its lush parks, and convenient transportation options, ensuring an attractive and convenient living experience for residents.Investors will appreciate the solid cap rate and the potential for further growth in rental income. The realistic achievable upside makes this property a wise investment choice in the competitive Los Angeles real estate market. With the ever-increasing demand for quality housing in Silver Lake, this property offers a fantastic opportunity to capitalize on the neighborhood's popularity and secure stable long-term returns. Don't miss out on this charming Silver Lake 6-unit apartment building with bungalow-style units and private enclosed outdoor spaces.

  • May, 2020

  • May 14, 2020

    Date

    Leased

    CRMLS: 20560142

    $1,650

    Price

  • Mar 18, 2020

    Date

    Price Change

    CRMLS: 20560142

    $1,650

    Price

  • Mar 3, 2020

    Date

    Active

    CRMLS: 20560142

    $1,700

    Price

  • Listing provided courtesy of CRMLS

    A fully renovated and completely detached studio, one bath in Silver Lake is now available. The detached unit features new floors throughout, new appliances (range/oven, refrigerator), ductless mini-split air conditioning, updated bathroom, new windows and more. Pets considered on a case by case basis. Community laundry on site. No parking. Located within minutes of LA's top restaurants, cafes, and bars. Come and see it today!

  • May, 2020

  • May 14, 2020

    Date

    Leased

    CRMLS: 19531874

    $3,300

    Price

  • Apr 27, 2020

    Date

    Price Change

    CRMLS: 19531874

    $3,300

    Price

  • Mar 18, 2020

    Date

    Price Change

    CRMLS: 19531874

    $3,500

    Price

  • Feb 20, 2020

    Date

    Price Change

    CRMLS: 19531874

    $3,600

    Price

  • Feb 4, 2020

    Date

    Price Change

    CRMLS: 19531874

    $3,750

    Price

  • Nov 22, 2019

    Date

    Active

    CRMLS: 19531874

    $4,000

    Price

  • Listing provided courtesy of CRMLS

    A beautiful and fully renovated three-bedroom, two bath in Silver Lake is now available. The home features hardwood floors throughout, stainless steel appliances (range/oven, refrigerator, dishwasher), three ductless mini-split air conditioning units, recessed lighting, updated bathrooms, new windows and more. A one car garage is included as well as a private and large wraparound deck. Pets considered on a case by case basis. Community laundry on site. Located within minutes of LA's top restaurants, cafes and bars. Come and see it today!

  • March, 2020

  • Mar 27, 2020

    Date

    Leased

    CRMLS: 19532108

    $1,900

    Price

  • Mar 18, 2020

    Date

    Price Change

    CRMLS: 19532108

    $1,900

    Price

  • Feb 20, 2020

    Date

    Price Change

    CRMLS: 19532108

    $2,000

    Price

  • Feb 4, 2020

    Date

    Price Change

    CRMLS: 19532108

    $2,095

    Price

  • Nov 22, 2019

    Date

    Active

    CRMLS: 19532108

    $2,200

    Price

  • Listing provided courtesy of CRMLS

    A beautiful and fully renovated one bed, one bath in Silver Lake is now available. The unit features new flooring throughout, stainless steel appliances (range/oven, refrigerator), ductless mini-split air conditioning, recessed lighting, an updated bathroom, new windows and more. Private outdoor space. Pets considered on a case by case basis. Community laundry on site. Located within minutes of LA's top restaurants, cafes, and bars. Come and see it today!

  • March, 2020

  • Mar 3, 2020

    Date

    Leased

    CRMLS: 19531908

    $1,700

    Price

  • Feb 20, 2020

    Date

    Price Change

    CRMLS: 19531908

    $1,700

    Price

  • Feb 4, 2020

    Date

    Price Change

    CRMLS: 19531908

    $1,795

    Price

  • Nov 21, 2019

    Date

    Active

    CRMLS: 19531908

    $1,900

    Price

  • Listing provided courtesy of CRMLS

    A fully renovated and completely detached studio, one bath in Silver Lake is now available. The detached unit features new floors throughout, stainless steel appliances (range/oven, refrigerator), ductless mini-split air conditioning, updated bathroom, new windows and more. Unit comes with a private outdoor space that has a fireplace. Pets considered on a case by case basis. Community laundry on site. No parking. Located within minutes of LA's top restaurants, cafes and bars. Come and see it today!

  • November, 2019

  • Nov 20, 2019

    Date

    Sold (Public Records)

    Public Records

    $2,023,000

    Price

  • April, 2019

  • Apr 24, 2019

    Date

    Sold (Public Records)

    Public Records

    $975,000

    Price

Show More

Tax History for 2641 Riverside Terrace

Assessed Value (2020): $2,022,650
Year Land Value Improved Value Assessed Value
2020 $1,500,000 $522,650 $2,022,650

Home Value Compared to the Market

This property vs the competition

2641 Riverside Terrace is listed 79.18% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $893 per/sqft which puts the price per square foot 15.37% higher than the median price per square foot for the city of Los Angeles.

About 2641 Riverside Terrace

Detailed summary of property

2641 Riverside Terrace is a multi family located in Los Angeles, CA 90039 and is currently for sale. This multi family property offers 6 bedrooms, 7 bathrooms, roughly 2,458 living square feet, and sits on an approximately 4,800 square foot lot. 2641 Riverside Terrace was first listed on ArdentRealEstateGroup.com on April 16, 2024. The homeowner is currently asking $2,195,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 79.18% higher than the median priced home. Local competing homes currently for sale include 3725 Arbolada Rd, 2523 Lyric Ave and 1120 Logan St. While the average home in Los Angeles, CA is selling in 96 days, 2641 Riverside Terrace has a days on market of 16 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 2641 Riverside Terrace Los Angeles, CA 90039 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2641 Riverside Terrace

Public county record property details
Beds
6
Baths
6
Year built
1921
Sq. Ft.
2,458
Lot Size
4,799
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
3-5
APN
5438-002-006

The source for these homes facts are from public records.

90039 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,799,000
Median List Price/Sq.Ft.
$964
Median Sold Price
$1,505,000
Median Sold Price/Sq.Ft.
$1,136
Total Inventory
51
Median Sale to List Price %
113.58%
Avg Days on Market
20
Loan Type
Conventional (23.08%), FHA (0%), VA (0%), Cash (7.69%), Other (7.69%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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