422 Parkman, Los Angeles, California 90026, Los Angeles, 90026 - 6 bed, 4 bath
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Los Angeles, California 90026
This Turnkey Silver Lake Duplex presents a Prime Investment Opportunity with a List Price of $1,550,000—positioned well below the $1,595,848 Fair Market Value by 2%. This valuation gap offers $45,848 in Instant Equity. Boasting a Condition Rating of 2, the property features a newly renovated 3-bedroom unit and is exempt from LA City Rent Control (RSO) due to its 1996 construction. Located near the top-rated Ivanhoe Elementary School, this asset balances high rental demand with premium lifestyle perks. It is perfectly suited for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 422 Parkman Subject | $1,550,000* List Price | 6 | 4 | 2,548 | $626 | - |
A 2958 London Street Sold | $1,200,000 | 0 | 0 | 2,494 | $481 | 0.0 mi |
B 3439 Plata Sold | $1,225,000 | 4 | 2 | 1,819 | $673 | 0.4 mi |
C 3439 Plata Street Sold | $1,225,000 | 0 | 0 | 1,931 | $634 | 0.4 mi |
D 3538 London Active | $1,359,000 List Price | 5 | 3 | 2,258 | $602 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property features a newly renovated upstairs unit with high-end modern finishes, including a contemporary kitchen with grey shaker cabinets, quartz countertops, honeycomb tile backsplash, and stainless steel appliances. The interior boasts new wide-plank flooring, recessed lighting, and updated fixtures throughout. While built in 1996, the extensive recent renovations and well-maintained exterior meet current quality standards with no visible deferred maintenance.
Elementary School: Ivanhoe Elementary School (9/10).
Built in 1996, this property is exempt from the restrictive Los Angeles City Rent Stabilization Ordinance (RSO), providing the owner with significantly more flexibility in rent adjustments under statewide AB 1482.
The newly renovated upstairs unit features high ceilings, abundant natural light, and in-unit laundry, making it an ideal move-in ready option for an owner-occupier looking to offset their mortgage with rental income.
The current CAP rate of 4.73% is relatively conservative for the area, meaning investors will need to focus on capturing the projected 5.59% market CAP to maximize the property's financial performance.
Unlike many premium properties in the hilly Silver Lake submarket, this residence lacks views, which may slightly limit its competitive edge against neighboring properties that offer city or hillside vistas.
Situated on a quiet cul-de-sac in Silver Lake, 422 Parkman Ave presents a well-located duplex opportunity in one of Los Angeles’ most sought-after rental markets. The property consists of two spacious 3-bedroom / 2-bath units totaling approximately 2,548 square feet of rentable space on a 5,459 square foot lot. It was built in 1996 so it is not subject to LA City Rent Control, it is only subject to AB 1482 statewide rent control. The upstairs unit has been newly renovated, creating an excellent opportunity for an owner-user to occupy one unit while generating income from the other. The unit features high ceilings, abundant natural light, and in-unit laundry, providing a comfortable and functional living environment. The lower unit provides stable in-place income with additional rental upside over time. The property includes a rear parking area with multiple spaces, offering convenient off-street parking for tenants. With strong existing income and the potential to capture market rents, the property presents both immediate cash flow and long-term value growth. Currently offering a 4.73% CAP rate and 14.57 GRM on current income, with a projected 5.59% market CAP and 12.92 market GRM, 422 Parkman Ave represents an attractive investment opportunity in a high-demand Silver Lake submarket known for its strong renter demand and proximity to major employment centers throughout Los Angeles.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-1 • 0.7 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 0.0 | 93% |
| Baths | 4.0 | 0.0 | 93% |
| Square foot | 2,548 | 2,521 | 50% |
| Lot Size | 5,459 | 5,070.5 | 50% |
| Price | $1.55M | $1.21M | 86% |
| Price per sq ft | $608 | $485 | 64% |
| Built year | 1996 | 1925 | 86% |
| HOA | $0 | $0 | 50% |
| Days on market | 35 | 193 | 7% |
Mar 18, 2026
$1,550,000
Initial Listing
Sep 26, 2006
$718,181
Public Record
Jun 24, 2005
$800,000
Public Record