1572 Myra Ave Los Angeles, CA 90027

Nestled in the coveted neighborhood of Los Feliz, this pristine 4-unit is an extremely rare find. 1572 Myra is a fully renovated Spanish-style duplex from the 1920s that boasts two brand-new ADUs. Positioned on a spacious, meticulously landscaped lot, the property underwent significant updates in 2023, offering tenants and buyers a trendy aesthetic to match the neighborhood.

Comprised of two sleek 3-bedroom, 1-bath units and two contemporary 1-bedroom, 1-bathroom + loft ADUs, this property exudes quality. Newly painted and landscaped, each unit comes with large private yards and high-end finishes, making this property a magnet for high quality tenants. Currently one of the 3 bedroom units is rented at an impressive $4,250 and one of the ADU’s is leased for 2.5 months (mid-term rental) at $2,950. Additionally, the garage is rented at $500 per month, a substantial stream of additional income. With 2 of these stunning units vacant, it is an opportune time for owner-occupancy. Obtain a lower rate via residential financing (primary residence), live in a gorgeous home, and have the other tenants contribute to the mortgage: the most economical way to live in LA!!!

For investors seeking a high return and significant appreciation potential, this property offers a compelling 5.23% cap rate. Immerse yourself in the luxury of ownership within walking distance of Los Feliz’s trendiest restaurants, bars, and shops. The property is separately metered for gas and electric, and submetered for water- meaning tenants pay all expenses!

Situated on a tranquil residential street near the iconic Sunset Junction, 1572 Myra Ave seamlessly combines urban accessibility with residential serenity. The design of this project, including the ADU’s cutting-edge use of sustainable shipping containers, caters to the modern artistic renter prevalent in the Los Feliz/East LA rental market. We project an annual income of $170,376.

Other notable features include: roof decks for each ADU accessed by modern spiral staircases, a garage/storage room that can generate additional income, expansive wood decks, turf yards, abundant windows for natural light, in-unit washer/dryers, and private backyards/patios for each unit. With its central location and undeniable curb appeal, this property is a stable asset with potential for annual appreciation, making it a wise investment in the ever-evolving LA real estate market.