3016 Waverly Drive, Los Angeles, CA 90039 - Berkshire Hathaway HomeServices California Properties
3016 Waverly Drive Los Angeles, CA 90039
$15,950,000 47 beds, 57 baths
45, 378 sqft

Agent Remarks

ASSUMABLE INTEREST-ONLY DEBT AT 3.44% UNTIL 2029! 7.35% 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 Details

Property type: (Multi-Family)
Status: Active
MLS# 25497531
List price is $15,950,000 Reduced by $300,000 on 4/14/2025
Beds: 47
Baths: 57
Built in 1973
45,378 sqft
1.01 acres
Lot size: 1.0146
County: Los Angeles
Zoning: LARD1.5
Heating description: Forced Air
MLS area: C21 - Silver Lake - Echo Park

Last Updated: 4/14/2025

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This listing belongs to the C21 - Silver Lake - Echo Park MLS area

Lat/Long: 34.110660, -118.268462.
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Listing Agent: Robert Renshaw
Co Listing Agent: Jonathan Taksa
Lic#: 01234982
Office Name: Mission Viejo

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