1618 Lucile Avenue

Description

For sale an extremely rare, mixed-use opportunity in prime Silver Lake one of LAs most prized sub-markets. The property is strategically located just north of Sunset Blvd, part of the famed Sunset Junction neighborhood. The property is comprised of a 5,392 SF mixed-use building built in 1926 and a 1,003 SFR built in 1915. The front mixed-use structure is 2,696 Square Feet and has 2 retail tenants; a bike shop called Golden Saddle Cyclery, and space utilized by a set-designer. Above the retail portion, there are 5 apartments that consist of one 2 Bed + 1 bath unit, and four studios, with one Studio VACANT. The tenants share a large outdoor deck. The House at the rear is a 2 Bed + 1 Bath Unit. Additionally, there is garage space currently occupied by Golden Saddle Cyclery. This prime investment is poised for an astute investor looking to add significant value to a currently underperforming asset with very strong core fundamentals. The lot size is 7,343 SF - allowing for future development (buyer to confirm). With many prominent developments nearby, one to note is the adjacent parcel that is being converted from a church built in 1931 to a 25 room boutique hotel with a restaurant, bar, pool, garden and spa by the Casetta group that plans to open in early 2022! This is an opportunity of a lifetime. On the market for the first time in 50+ Years!