839 N. Occidental Boulevard
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Closing at $725,000 per unit, the sale of 839 N. Occidental Boulevard set a new pricing benchmark for rent-controlled fourplexes in Silver Lake, even amid a volatile interest rate environment.
Background
839 N. Occidental Boulevard is a Spanish-style fourplex located just south of Sunset Boulevard and approximately 1.5 miles from Sunset Junction, placing it within one of Silver Lake’s most established residential pockets. The surrounding area offers direct access to Sunset Boulevard’s retail, dining, and neighborhood amenities, which continue to anchor long-term rental demand.
The property consisted of four extensively renovated two-bedroom units, including one two-bedroom, two-bath unit and three two-bedroom, one-bath units. Each residence blended original Spanish architectural details with modern finishes designed to appeal to higher-income renters. In addition to the existing improvements, the property included approved plans for two additional two-bedroom ADUs of approximately 926 square feet and 606 square feet, respectively, providing future optionality for a buyer.
The listing was initiated by a Compass residential agent with the goal of achieving record pricing for a rent-controlled fourplex in Silver Lake. To expand exposure and better reach multifamily investors, Max was brought on as a co-listing partner alongside Joe of Bryant\Reichling, leveraging prior collaboration and familiarity with high-end RSO assets in Northeast Los Angeles.
Challenge
The property was brought to market in late September at a 4.6% CAP rate, as interest rates were trending between 5% and 5.25%. While buyer interest was steady, many investors expressed hesitation around pricing and adopted a wait-and-see approach amid shifting capital markets. Compounding the challenge, the seller was based internationally and required a specific pricing outcome to satisfy the terms of a divorce settlement, limiting flexibility during negotiations.
The broader market environment added further uncertainty, with multiple rate increases and banking disruptions occurring during the marketing period.
Result
Despite these headwinds, Max and Joe maintained disciplined positioning and continued targeted outreach to exchange buyers familiar with Silver Lake fundamentals and comfortable underwriting renovated RSO product. That approach ultimately identified a qualified 1031 exchange buyer who understood both the in-place income and the long-term value of the ADU approvals.
The transaction closed at a sale price of $2,900,000, equating to $725,000 per unit. The sale established a new record for rent-controlled fourplex pricing in the 90026 ZIP code. The outcome underscored the importance of buyer alignment, patience, and local market credibility when pursuing premium pricing in a volatile environment.
Story Details
Name
839 N. Occidental Boulevard
Closed Time
Price
$725,000
Location
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