Prime Investment Opportunity Quadplex Next to Virgil Village and Sunset Junction! 756 Hyperion Ave presents a captivating opportunity near the heart of Virgil Village and Sunset Junction, boasting a charming California Bungalow and Midcentury Triplex. This small hillside property features a driveway that leads to a triplex in the rear of the property. The hillside through portions of the property could provide unobstructed views of the Hollywood sign and the Griffith Observatory. The property consists of a 1 bed/1 bath bungalow constructed in 1916spanning 646 SF renovated in 2015, alongside a triplex built in 1965, featuring one 4 bed/2 bath owner’s unit and two 1 bed/1 bath units, totaling 2,934 SF. Notably, both the owner’s unit and one of the 1 bed units in the triplex will be vacant upon close of escrow. Currently, the property demonstrates a Gross Rent Multiplier (GRM) of 15.32 with a cap rate of4.4%, indicating its strong investment potential. Additionally, the spacious lot offers ample parking space and potential for an Additional Dwelling Unit (ADU) at the rear. Conveniently situated, a stroll up Hyperion or Hoover leads to the vibrant Sunset Blvd., renowned for its diverse retail and dining options at Sunset Junction. Similarly, exploring south on Virgil or Hoover provides access to the bustling Virgil Village scene. This property’s central location coupled with its remarkable upside potential makes it an enticing investment opportunity for discerning buyers
Property Details
Price:
$1,775,000
MLS #:
24364747
Status:
Active
Baths:
0
Address:
756 Hyperion Avenue
Type:
Residential Income
Neighborhood:
c21silverlakeechopark
City:
Los Angeles
Listed Date:
Mar 4, 2024
State:
CA
ZIP:
90029
Lot Size:
7,514 sqft / 0.17 acres (approx)
Year Built:
1916
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Interior
Cooling
Wall/ Window Unit(s)
Heating
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Exterior
Parking Features
Street
Parking Spots
4.00
Financial
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Gas, Electricity
Map
Community
- Address756 Hyperion Avenue Los Angeles CA
- AreaC21 – Silver Lake – Echo Park
- CityLos Angeles
- CountyLos Angeles
- Zip Code90029
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Courtesy of Keller Williams Realty Downey. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
756 Hyperion Avenue
Los Angeles, CA
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