1St Time on the market, EVER! Opportunity knocks for the astute investor to acquire this diamond in the ruff. Prime rental location in the heart of Silverlake just steps to the intersection of Fountain and Sunset. This 5 unit property is your chance to acquire a repositioning project in one of the most coveted zip codes in Los Angeles. This character property has remained in the same family and under the same management since developed in 1962. Current rents are less than 65% of market rates. This gives the new owner an opportunity to achieve a 9.68% cap rate (YES, 9.68% cap in Silverlake!) after repositioning. Unit #3 features a spacious 3 bedroom/2 bath unit which would make an exceptional owner-user opportunity. Remaining units feature two 2 bedroom/1 bath units and two 1 bedroom/1 bath units. The property has a generous setback, spacious floor plans, 4 designated garages, 7 opens parking spaces, walking distance to Kaiser Sunset Medical, partial views and tons of mid-century character. This property is unquestionably the value-add opportunity you have been seeking.