1217 Westerly Ter — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90026

Investment Figures

Cap rate
5.48%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 1217 Westerly Terrace in Los Angeles, California. The subject property is located in a prime Silver Lake location, just north of Sunset Blvd and east of Silver Lake Blvd. Located in prime Silver Lake just minutes from Sunset Junction, this fourplex features a desirable unit mix of 75% two-bedroom units and offers approximately 25% rental upside. The property is delivered 50% vacant, including a recently remodeled one-bedroom unit with hardwood floors, stainless steel appliances, and modern finishes. Select units offer views of Sunset Blvd and have the convenience of washer and dryer hookups. A rear vacant room and existing garage present strong ADU conversion potential. The property also qualifies for an attractive 30-year residential financing. Positioned in the heart of Silver Lake, this property benefits from a highly sought-after location surrounded by top-tier dining, retail, and lifestyle amenities. With significant vacancies, incredible views, a desirable two bedroom-heavy unit mix, and multiple opportunities for ADU conversions, this offering presents a compelling value-add investment in one of Silver Lake’s most sought-after locations. Investment Highlights: • Prime Silver Lake Location - Walking Distance to Sunset Junction • Fourplex - 75% 2-Bedroom Units • Delivered 50% Vacant • Vacant One-Bedroom Unit Remodeled Recently - Hardwood Floors Throughout with Berber Carpet in Bedroom, Recessed Lighting with Dimmers, A/C Wall Unit, Stainless Steel Appliances, and Faux Wood Blinds • Bonus ~400 SF Vacant Room in the Rear - Possible ADU Conversion • On-Site Garage Parking - Excellent Opportunity to Convert to an ADU • On-Site Laundry Room • Select Units have Washer and Dryer Hookups

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.5% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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