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$1,650,000
Est. payment /mo
7 Beds
5 Baths
3,570 SqFt
UPDATED:
12/24/2024 12:00 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,570 sqft
Price per Sqft $462
MLS Listing ID 24364747
Bedrooms 7
HOA Y/N No
Year Built 1916
Lot Size 7,514 Sqft
Property Description
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
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LARD2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features On Street
Total Parking Spaces 4
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5427011026
Special Listing Condition Standard
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Listed by Michael R. Fukushima • Keller Williams Realty Downey