3016 Waverly Drive

Los Angeles, CA 90039

$16,250,000

List Price

47

bed Beds

57

shower Baths

45,378 sqft

straighten / sqft

1973

calendar_month Built

Property Description

ASSUMABLE DEBT AT 3.44% UNTIL 2029! 6.76% CASH-ON-CASH RETURN! We are pleased to present the Waverly at Silver Lake. Perched atop a promontory between the red-hot Silverlake and Atwater Village neighborhoods on LA's eastside, this 45-unit luxury apartment community represents a rare and unique acquisition opportunity. Constructed in 1973 and composed of spacious efficiency, studio, 1, and 2-bedroom layouts, the Waverly at Silver Lake offers tenants a wide range of living options in a diverse urban setting. The 45 units are spread across 45,378 gross square feet. Total land area is just over one acre zoned RD1.5. Many units have sweeping views in multiple directions. The property features upscale amenities such as elevator service, a furnished sundeck and picnic area, laundry facilities and secured, gated parking for 58 vehicles. Many of the units have been highly upgraded with quartz countertops, modern flooring, new appliances and new fixtures. Select units also feature skylights and balconies or patios. The Waverly is nestled in a quiet residential neighborhood, yet it is less than a 10-minute walk from some of the area's trendiest shops and restaurants along Rowena Avenue. A quick stroll or drive along Hyperion will land tenants in Atwater Village which is home to several notable restaurants including Michelin-starred Morihiro Sushi. For the astute investor seeking a sizable, professionally-managed, luxury turnkey property with significant remaining upside potential, The Waverly provides strong in-place income with fantastic long-term growth potential.

Listing Information

List Price $16,250,000
Status Active
MLS 25497531
Type Residential Income
Year Built 1973
Lot Size 44,194
Structure Size 45,378
DOM 8
Courtesy Of REMAX COMMERCIAL & INVESTMENT REALTY
Listing Agent Robert Renshaw DRE#01332831
Co-Listing Agent Jonathan Taksa DRE#01366169

Interior Features

Total Bedroom
Bedrooms 47
Total Bathroom
Bathrooms 57

Maps

home_work Nearby Properties

Listing information courtesy of: Robert Renshaw, Jonathan Taksa, REMAX COMMERCIAL & INVESTMENT REALTY 424-293-4770. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 20th, 2025 at 1:31 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.