The sale of 659 Imogen Ave involved two side-by-side fourplexes in one of Silver Lake’s most established rental pockets. While the properties went under contract quickly, diligence issues forced a reset before a second buyer stepped in and closed the transaction within weeks.
659 Imogen Ave was part of a side-by-side fourplex offering located just south of Sunset Blvd in Silver Lake. The properties were positioned in a consistently strong rental market attracting families and young professionals working across creative, media, and professional services industries.
Each unit featured hardwood flooring, in-unit washer and dryer, generous storage, and functional layouts with strong natural light. Property amenities included gated entry, a shared front yard, a large communal outdoor area, 8 tandem parking spaces, and separate gas and electric meters for each unit.
Together, the properties sat on a combined lot exceeding 15,000 SF, offering scale, layout efficiency, and long-term optionality in a neighborhood where multifamily turnover remains limited.
After holding the properties for several years, ownership decided it was the right time to exit and capture value in a Silver Lake market that continued to reward well-located, value-add assets.
Within 1 week of the listing going live, both properties were under contract. During the due diligence period, however, the buyer identified multiple items of unpermitted work and requested a substantial credit.
Negotiations stalled as the parties were unable to bridge the gap between pricing expectations and the scope of the requested concessions. Ultimately, escrow was canceled, requiring a full reset of the process while preserving momentum and credibility with the broader buyer pool.
2 weeks after canceling escrow, a new buyer was identified who understood the location, building configuration, and long-term potential of the combined site. The buyer was comfortable underwriting the existing condition and focused on the opportunity to execute multiple value-add improvements over time.
Escrow opened in early January and closed 30 days later at a purchase price of $3,000,000. From signing the listing agreement to closing, the sale of 659 Imogen Ave was completed in approx. 90 days.
Despite the reset mid-process, the seller achieved a timely exit, while the buyer acquired a well-located Silver Lake asset with scale, outdoor space, and a clear path to future improvements.
659 Imogen Ave
If you’re evaluating options for your property, we’re available to talk through value, timing, and current buyer sentiment. The goal is clarity, not commitment.
