1507 Silver Lake Blvd. $2,500,000 Silver Lake, CA 90026 5 Units

1507 Silver Lake Blvd. $2,500,000 Silver Lake, CA 90026 5 Units Brett Howard Howard Realty Group Inc. Broker: 01120327 (818) 355-6017 (818) 671-3103 Fax [email protected] Highlights Property Address: 1507 Silver Lake Blvd. Silver Lake, CA 90026 Year of Construction: 1953 Building Size: 4,468 SF Lot Size: 5,001 SF Zoning: LAR 3 Parking: 4 Garages 4,468 SF Apartment building on Silver Lake Blvd. 4 car Garage. Four units @ 2+1 and One Unit @ 1+1. 2 Story building with recent retrofit completed (Nov 2020). Onsite Laundry-New Dryer 2020 (Owned). New Water Heater (2021). All units with original Oak hardwood floors. Some Units updated. Located in Silverlake Village! Restaurants Bars shops are on the same block. Get your coffee at La Mille, Or a fine Italian dinner at Alimento. 3 blocks away from the Silverlake Reservoir with its jogging trails. One loop is 2.2 miles. 6 minutes from the Mighty Griffith Park Income: $113,023 Laundry Income: $1,500 Garage Income: $1,200 TOTAL INCOME: $115,723 Expenses: $6,168 Taxes: $30,000 Insurance: $3,600 Total Expenses: $38,808 NOI: 75,955 Unit: Unit Mix: Rent: 1507: 2 Bedroom, 1 Bath $2,123 1507 ½: 2 Bedroom, 1 Bath $1,289.60 1509” 2 Bedroom, 1 Bath $1,920 1509 ½: 2 Bedroom, 1 Bath $2,500 1511: 1 Bedroom, 1 Bath $1,586 CITY OF SILVER LAKE, CA Silver Lake is a residential and commercial neighborhood in the east-central region of Los Angeles, California.[2] Originally named Ivanhoe in the 1900s by a resident from Scotland,[3] it was built around what was then a city reservoir which gives the district its name. The "Silver" in Silver Lake is not because of the water's color, but named for a local politician who helped create the reservoir. The area is also known for its restaurants, painted staircases and hipster hangouts, and many notable people have made their homes there. The neighborhood has several public and private schools. It is said that Silver Lake's residents "Fully embrace the hipster lifestyle". Geography Silver Lake is flanked on the northeast by Atwater Village and Elysian Valley, on the southeast by Echo Park, on the southwest by Westlake, on the west by East Hollywood and on the northwest by Los Feliz.[4][5][6] Street and other boundaries are: the Los Angeles River between Glendale Boulevard and Fletcher Drive and Riverside Drive on the northeast, the Glendale Freeway on the east, Effie Street, Coronado Street, Berkeley Avenue and Fletcher Drive on the southeast, the Hollywood Freeway on the south, Virgil Avenue on the west and Fountain Avenue and Hyperion Avenue on the northwest.[7] The prime real estate around the lake is known by realtors as the "Moreno Highlands." The Silver Lake neighborhood council has mapped the boundaries of its council region.[ In 1904, the Fletcher Drive Viaduct was constructed at the northeastern boundary of Silver Lake for the Glendale Line of the Pacific Electric Railway Company, nicknamed the Red Cars. Originally constructed of timber, the viaduct was replaced in 1928 by a steel span construction to make way for Fletcher Drive underneath it. It was demolished in 1959 and only its concrete footings remain.[9] During the 1930s, Walt Disney built his first large studio in Silver Lake at the corner of Griffith Park Boulevard and Hyperion Avenue, currently the site of Gelson's Market. As consequence, the name "Hyperion" is used by The Walt Disney Company and its subsidiaries, with company entities past and present carrying the name, such as Hyperion Books and the Hyperion Theater at Disney California Adventure Park.[10] The fictional Seattle neighborhood of Hyperion Heights in the final season of the Disney-owned ABC series Once Upon a Time also traces its name to the same origin. The Glendale-Hyperion Bridge in eastern Silver Lake near the I-5 freeway Several blocks away on Glendale Boulevard was the studio of early Western films' star Tom Mix. The location is now occupied by the Mixville Shopping Center. It is rumored that Mix buried his steed "Tony, the Wonder Horse" on the property.[10] The neighborhood is crisscrossed by numerous municipal staircases that provide pedestrian access up and down the neighborhood's signature hills. Among these are the Descanso Stairs, Redcliffe Stairs and the Music Box Stairs. The famous flight of stairs in Laurel and Hardy's film The Music Box are located between lower Descanso Drive and Vendome Street, as it winds up and around the hill. Filming location and plaque at site of Laurel and Hardy's The Music Box (1932) In the 1950s and 1960s, Silver Lake was home to a middle class Latino community. The community was formed by people who worked in the then-bustling manufacturing hub of downtown Los Angeles. In the 1970s, outsourcing led to a downturn in the community's prosperity, as they saw their jobs shipped overseas to Taiwan and China along with manufacturing. The neighborhood lost its prominence amid urban decay.[citation needed] Beginning in the 1970s, the neighborhood became the nexus of Los Angeles' gay leather subculture, the equivalent of the SoMA neighborhood in San Francisco.[11] Since the late 1990s, gentrification has changed the area by pushing out public sex and "gay cruising",[12] and by facilitating the opening of many independent upscale boutiques, coffee shops, fitness studios, and restaurants. LGBT community In the 1930s Silver Lake and Echo Park still comprised Edendale and acted as a space where members of the LGBT community were able to express their identities. Prominent female impersonator Julian Eltinge built his house in Silver Lake and performed until the city passed laws criminalizing cross-dressing, after which he continued to recount his drag performances to audiences.[13] Silver Lake was also home to Harry Hay, credited with founding the first gay organization, the Mattachine Society, which began as Bachelors' Anonymous. Hay lived and had meetings in Silver Lake at the time the group began in 1950. Kevin Roderick wrote in his eulogy for Hay in Los Angeles that many consider the house located near Silver Lake to be the birthplace of the gay-rights movement.[14] The Black Cat Tavern, a fairly popular bar that has now become a historic-cultural monument, was the site of a police raid in 1967 that spread to adjacent bars, becoming a full-blown riot, which resulted in more than a dozen arrests. The protests in response to the raid predated the Stonewall riots by two years.[15] Los Globos is another popular bar that has become the site of Banjee Balls where the LGBT youth come together.[16] Voguing is a large part of the balls and brings a Paris Is Burning vibe into Los Angeles night life. The building was originally one of the earliest American Legion halls.[17] Circus of Books was a bookstore and gay pornography shop that was notable as a gay cruising spot of the late 20th Century.[18] As the AIDS epidemic gripped the US in the 1980s tensions between gay men and the LAPD escalated. Several LGBT activists in Silver Lake claimed they felt unsafe reporting hate crimes against them to the police, whom they felt harbored anti-LGBT sentiments. Their complaints grew to the point that then-City Council member Michael Woo advocated to establish a hotline to relay information to police indirectly and compile statistics on the frequency of gay-bashings.[19] Some bath houses, which acted as social spaces for gay men, were shut down by the city government in an effort to curb the spread of the virus. The ensuing controversy reflected a nationwide debate about whether this type of action constituted public health policy or perpetuation of discrimination against the LGBT community.[20] In 1992 about 85 activists protested gay-bashing and violent acts against homosexuals in the area, carrying banners emblazoned with “Stop the Violence” along Sunset Boulevar Reservoir Main article: Silver Lake Reservoir Looking west across the lower reservoir The neighborhood was named for Water Board Commissioner Herman Silver, who was instrumental in the creation of the Silver Lake Reservoir in the neighborhood, one of the water storage reservoirs established in the early 1900s.[3] This is one of ten that still remain in Los Angeles.[22] In the community of Silver Lake lies the namesake reservoir composed of two basins, with the lower named Silver Lake and the upper named Ivanhoe. The lower body of water was named in 1906 for Herman Silver; the upper body received its name from the 1819 Sir Walter Scott novel Ivanhoe.[23] The reservoirs are owned and maintained by the Los Angeles Department of Water and Power (DWP), and could provide water to 600,000 homes in downtown and South Los Angeles;[24] however, only the smaller of the two, Ivanhoe, remains online. At capacity, they hold 795 million gallons of water. The Silver Lake Reservoir's water resources was replaced by the Headworks Reservoir, an underground reservoir north of Griffith Park, slated for completion by December 2017.[25] Also within the grounds of the reservoir are several popular recreational facilities: the Silver Lake Recreation Center, which includes an adjacent city park; the Silver Lake Walking Path, which circumnavigates the reservoirs (2.25 miles); two enclosed dog parks, and the Silver Lake Meadow, modeled after NYC's Central Park Sheep Meadow. On the northeast corner of the property is the Neighborhood Nursery School, which since 1976 has been at the corner of Tesla Avenue and Silver Lake Boulevard. It is a parent-participation cooperative preschool, affiliated with the California Council of Parent Participation Nursery Schools.[26][27] Government As of 2020, Silver Lake is represented by Los Angeles City Council Members Mitch O'Farrell and Nithya Raman and the Silver Lake Neighborhood Council.[28] The Silver Lake Neighborhood Council (SLNC) was formed in the early 2000s and certified as part of the City of Los Angeles Neighborhood Council system in February 2003.

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