Not long after completing a 31-unit condominium building in Los Angeles’ Silver Lake neighborhood, developer Barth Partners is placing it up for sale. According to the listing by Northmarq, Vica is on the market with an asking price of $43.8 million, or about $1.4 million per unit.
The property is located at 3400 Sunset Boulevard and was completed earlier in 2021, with designs from KFA Architecture. According to a landing page for the project from the architecture firm, the project cost $21 million to build and includes a mix of market rate units, with top floor penthouse units averaging 1,600 square feet. In total, Vica consists of one studio, eight one-bedroom units, 15 two-bedroom units, one one-bedroom penthouse, two two-bedroom penthouse and two three-bedroom penthouse floor plans
The residential portion of the property is currently 88 percent occupied. The property also includes 1,500 square feet of retail space, which is currently leased to Lululemon.
Additionally, the property is home to a number of amenities, which include a private resident lounge equipped with a gourmet kitchen and sundeck, a pool, fitness center, a meditation garden, a concierge office and onsite storage facilities.
The Silver Lake neighborhood puts the property in close proximity to various shopping and dining amenities as well. Vica is also in close proximity to both Hollywood and downtown Los Angeles, both of which offer a combined 90 million square feet of office space. Nearby employers include Netflix, HBO, Paramount, Live Nation, Viacom and NBC Universal, among others.
According to Northmarq, the property is also just one of several multifamily properties over 25 units to be built in Silver Lake in the past 20 years.
“As this area of Los Angeles is dominated by expensive single-family homes and extravagant bungalows, home ownership is unattainable for most of the growing population seeking to establish their roots in this dynamic urban enclave,” Northmarq states. “To capture this expanding audience of buyers, developer Barth Partners initially entitled and designed Vica as condominiums to capture the demand for alternative high-end homeownership options. Yet these contemporary modern homes perfectly combine a sophisticated lifestyle experience matching the discerning tastes of todays’ elite urban renters.”
Northmarq was unable to comment at this time.