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We are pleased to present 3209 Descanso Drive, a 17-unit apartment building in the heart of Silver Lake, situated at the corner of Descanso Drive and Larissa Drive just off Sunset Boulevard. The unit mix consists of nine singles, seven one-bedroom units, and a newly completed two-bedroom, two bath ADU in the basement. The ADU is currently vacant, giving a buyer the opportunity to lease it at market rent immediately upon closing. Offered at $3,500,000, the property is priced at a 6.58% CAP rate and 9.79 GRM on current income, with approximately 23% rental upside to an 8.70% CAP rate on pro forma rents. Attractive assumable financing is also available. Please consult the listing agent for further details. Ownership has made substantial capital investments in the building, including new front entry stairs completed in compliance with SB 721 balcony inspection requirements, stucco repair, full exterior paint, a new perimeter fence, a video intercom access control system, and wall heater replacements across nine units. RUBS is in place, and a common area laundry room offers two washers and two dryers. Select units have been renovated upon turnover with luxury vinyl plank flooring, fresh paint, updated lighting fixtures, stainless steel appliances, tiled bathrooms, and custom cabinetry, including one unit fully renovated from its original condition. The property is within walking distance of the dining, retail, and nightlife along Sunset Boulevard, including Pine & Crane, Bacari Silver Lake, Intelligentsia Coffee, and Erewhon. With a Walk Score of 96 (Walker's Paradise), residents can handle most daily errands on foot, and the location offers multiple Metro bus lines along Sunset and the Metro B Line approximately one mile away. Silver Lake remains one of the most sought-after rental markets on the Eastside, drawing young professionals, creatives, and families with its walkable village character and dense concentration of restaurants, boutiques, and coffee shops along the Sunset corridor.
Property Type(s):
Residential Income
| Last Updated | 11/11/2026 | Year Built | 1928 |
|---|---|---|---|
| Community | C21 - Silver Lake - Echo Park | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | C21 - Silver Lake - Echo Park |
| HEAT | None |
| LOT | 5497 sq ft |
| LOT DIMENSIONS | 5497 |
| PARKING | None |
| STORIES | Split/Multi Level |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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