Thought the Patch community would be interested in some of the data we've gathered recently concerning 2-4 unit income properties in Silver Lake:
- Median estimated gross rent multiple: 12.7x annual rents (so, if the rents are $3,000 per month, the annual rent is $36,000 and the building's worth $457,000)
- Median sale price as % of list price: 98% (so, if the property is listed at $400,000, it closes around $392,000)
- Median days on market: 51
- Median price per sq ft: $318
- Median price per unit: $226,500
If you're interested in learning more about the value of income properties in Silver Lake, check out my blog for more info.