1572 Myra Avenue Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90027
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,247 sqft
Price per Sqft $889
MLS Listing ID BB-25058208
Style Modern
Year Built 1925
Lot Size 5,913 Sqft
Property Sub-Type Quadruplex
Property Description
1572 Myra Ave is an exceptional investment opportunity in Los Feliz. With market cap rates hovering around 5.50% or lower, this fully renovated, 100% leased fourplex offers an unprecedented 6.77% REAL cap rate, making it one of the strongest cash-flowing deals in the area. Generating $15,100 per month ($181,200 annually) in actual rental income, this is a true turnkey investment with minimal owner expenses thanks to separately metered electricity, gas and water submeters. This fully updated Spanish-style fourplex blends 1920s charm with modern upgrades, featuring two 3-bedroom, 1-bath units (each rented at $4,250) and two sleek 1-bedroom, 1-bath + loft + roofdeck ADUs (leased for $3,200 and $2,900, respectively). Additionally, the garage is leased for $500 per month, adding even more income. The high-end finishes, large private outdoor spaces, and premium design elements have attracted strong, stable tenants, ensuring immediate and long-term returns. Located on a peaceful residential street just moments from Sunset Junction, the property offers prime access to Los Feliz's most popular hotspots, including All Time, Maru Coffee, Little Dom's, and The Dresden. Whether grabbing a bite at Bacari Silverlake, sipping cocktails at The Alcove & Big Bar, or enjoying the nightlife at The Virgil, tenants are immersed in one of LA's most sought-after neighborhoods. The ADUs, built with sustainable shipping containers, appeal to the modern artistic renter that dominates this market. Other standout features include rooftop decks for each ADU, modern spiral staircases, expansive wood decks, turf yards, in-unit washer/dryers, and abundant natural light. Investment opportunities at this level rarely hit the market in Los Feliz. With a market-defying 6.77% cap rate, rock-solid rental income, and a highly desirable location, 1572 Myra Ave is a standout deal in today's market.
Location
State CA
County Los Angeles
Area C22 - Los Feliz
Zoning LARD1
Interior
Interior Features Open Floorplan,Recessed Lighting
Heating Central
Cooling Central Air
Fireplaces Type None
Laundry Dryer Included,Washer Included
Exterior
Exterior Feature Lighting
Parking Features Garage
Garage Spaces 1.0
Pool None
Community Features Sidewalks,Street Lights
View Y/N Yes
View City Lights
Building
Lot Description Landscaped,Back Yard
Sewer Public Sewer