$1,800,000 Price Analysis   ♡   Los Angeles, CA 90029 7 bed 5 bath 3,570 SqFt ($504/SqFt) 7,514SqFt lot. Built 1916 Listed 2024-03-04, Taxes $1,950 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
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 roomy lot offers ample parking space and potentil 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
Presented by Michael R. Fukushima at
Keller Williams Realty Downtown LA.
Property MLS #24-364747 from TheMLSCLAW
Full Bathrooms: 5
Heating Features: Wall
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7514
Parking Total: 4
Calculated Total Monthly Association Fees: 0
Number of Units: 4
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 7800, 2 BedsTotal: 4, 2 BathsTotal: 2, 2 SquareFeet: 5500
County: Los Angeles
Cross Street: N Hoover St.
Cap Rate: 4.9
Directions: Property is near the intersection of N Hoover St. and Hyperion Ave. in Silver Lake.
Source Property Type: Residential Income
Area: Silver Lake - Echo Park
Source Neighborhood: Silver Lake - Echo Park
Owner Pays: Water, Electricity, Gardener
Parcel Number: 5427-011-026
Postal Code Plus 4: 3104
Zoning: LARD2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $85,225 + $30,232 $115,457 | $1,950 |
| 2021 | $83,554 + $29,640 $113,194 | $1,908 |
| 2020 | $82,698 + $29,337 $112,035 | $1,917 |
| 2019 | $81,077 + $28,762 $109,839 | $1,862 |
| 2018 | $79,488 + $28,199 $107,687 | $1,736 |
| 2017 | $77,930 + $27,647 $105,577 | $1,704 |
| 2016 | $76,402 + $27,105 $103,507 | $1,624 |
| 2015 | $75,255 + $26,698 $101,953 | $1,606 |
| 2014 | $73,781 + $26,176 $99,957 | $1,640 |
| 2013 | $73,448 + $26,058 $99,506 | $1,640 |
| 2012 | $72,008 + $25,548 $97,556 | $1,660 |
| 2010 | $70,597 + $25,048 $95,645 | $1,649 |
| 2009 | $70,237 + $24,921 $95,158 | $1,595 |
| 2009 | $70,070 + $24,861 $94,931 | $1,595 |
| 2008 | $68,860 + $24,433 $93,293 | $1,545 |
| 2007 | $67,510 + $23,954 $91,464 | $1,483 |
$1,800,000
TheMLSCLAW
Price Changed 2024-04-19
$1,950,000
TheMLSCLAW
Listed 2024-03-04
$2,050,000
TheMLSCLAW
Year Built: 1916
Levels: Multi Levels
Living Area Source: Vendor Enhanced
Property Age: 108
Year Built Source: Vendor Enhanced
Map directions Map directions Map directions Map directions
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.