Courtney Pickard, Joe Reichling & Todd Bachenheimer Sell The O'Neill Duplex For $2.5M
2342 Cove Avenue
$2,500,000
$1,152/SF
Building Size
2,169 SF
Asset Type
MultiFamily
Closing
May 31, 2024
AI
2342 Cove Avenue, a historic cultural monument known as The O'Neill Duplex No. 1 by architect Rodney Walker in Silver Lake, Los Angeles, has been sold for $2,500,000. The property features a side-by-side duplex with flexible floorplans, each unit offering 2 bedrooms and 2 bathrooms. The mid-century architectural features and stunning views of the Silver Lake Reservoir, Hollywood sign, and Griffith Observatory add to its allure.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Address: 2342 Cove Avenue
- Market: Los Angeles
- Square Footage: 2,169
- Price Per Square Foot: $1,153
- Brokers: Courtney Pickard, Joe Reichling & Todd Bachenheimer - Compass
The brokers involved in facilitating the sale of 2342 Cove Avenue were Courtney Pickard, Joe Reichling, and Todd Bachenheimer of Compass. The property's rich history as a cultural monument and its architectural significance in Silver Lake make it a highly sought-after piece of real estate in the area.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93