Nestled in one of Silver Lake's most sought-after pockets, this beautifully restored 1920s Mediterranean duplex blends timeless character with thoughtful modern updates. The side-by-side residences each span two levels and offer 2 bedrooms, 2 bathrooms, beautifully updated kitchens and bathrooms, central HVAC, in-unit laundry, hardwood floors, recessed lighting, generous closet space, dedicated office nooks, and charming sunrooms with views of the surrounding hills and the city skyline. What truly sets this property apart are its exceptional outdoor spaces. Each residence enjoys its own private outdoor area, while the fully fenced grounds provide an uncommon sense of privacy and security, complete with exterior lighting and security cameras. Lush landscaping, mature succulents, vibrant plantings, and fruit trees create a tranquil garden retreat equally suited for entertaining or everyday enjoyment. Adding even more versatility is an approximately 350-square-foot detached, partially converted garage offering one-car parking with an EV charger, along with a flexible bonus space ideal for an art studio, music room, home gym, or office. An additional off-street parking space is available in the driveway. Both residences are occupied by excellent month-to-month tenants paying market rents, generating a combined gross monthly income of $10,550 ($5,800 and $4,750 per month). Current annual operating expenses for utilities and maintenance, including water, sewer, trash, and landscaping, are approximately $7,700. With both leases on a month-to-month basis, the property offers exceptional flexibility for investors seeking immediate cash flow or owner-users looking to occupy one residence while offsetting their mortgage with rental income. Ideally located just moments from the reservoir, Sunset Junction, Erewhon, acclaimed restaurants, boutiques, and nightlife. This is a rare opportunity to own a beautifully restored duplex in one of Los Angeles' most vibrant and coveted neighborhoods.
Silver Lake, located between Los Feliz and Echo Park, is a hillside and lakeside Los Angeles neighborhood with a reservoir centerpiece and a street-art edge. Sunset Junction at Sunset Blvd and Santa Monica Blvd concentrates the neighborhood’s character, with indie boutiques, espresso bars, record bins, and late-night patios in constant motion. The Silver Lake Reservoir loop sets a daily rhythm for walkers and runners, framed by palms and big sky views. Mid-century moderns and Spanish Revival homes climb the slopes above stair streets and pocket gardens. The Satellite and the Silver Lake Lounge anchor the live-music calendar, while the Silver Lake Farmers Market keeps weekends grounded in local ritual.
Provided by Walk Score and Local Logic
Offer insights
1501 Westerly Ter · $1,749,000
$1.77M and above
75% chance or better to win
Why $1.77M+ is a strong offer
DAYS ON MARKET
27 days
The average home goes pending in 67 days.
SALE-TO-LIST
98.2%
Most homes are selling 2% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Interior features
Built-ins
Garbage disposal
Bedrooms
Two bedrooms in Unit 1
Two bedrooms in Unit 2
Bathrooms
Two bathrooms in Unit 1
Two bathrooms in Unit 2
Kitchen
Dishwasher
Range/Oven
Refrigerator
Laundry & utility
Washer
Dryer
Heating & cooling
Central heating
Central air conditioning
Exterior features
No other structures noted
Lot zoned LAR2
Home design
Residential income property
Two-level, multi-level building
One building on the lot
Parking
Detached garage
Two garage spaces
Three total parking spaces
Construction
No construction year provided
HOA & community
Two units in the complex
Financial info
Actual annual gross rent $126,600
Net operating income $88,110
Total annual expenses $34,690
Cap rate 5%
Gross rent multiplier 13.81
Vacancy allowance 3%
Electricity and solar
View estimated energy costs and solar savings for this home
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