Keegan Cin | Realtor® | License # DRE 01971604

Property

Los Angeles, CA 90029 756 Hyperion Avenue

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Presented By: Michael R. Fukushima with Keller Williams Los Angeles;
  • MLS# 24364747
  • 03/04/2024
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  • Beds • 7
  • Baths • 5
  • SQFT • 3,570
  • Year Built • 1916

Home Details

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 Proforma Gross Rent Multiplier (GRM) of 10.1 with a Proforma CAP rate of 7.0%, 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.
Presented By: Michael R. Fukushima with Keller Williams Los Angeles;

Interior Features for 756 Hyperion Avenue

Bedrooms

Total Bedrooms7

Bathrooms

Half Baths0
Total Baths5
1/4 Baths
3/4 Baths

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NYes
Total Stories

General for 756 Hyperion Avenue

Additional Parcels Y/NNo
Attached Garage No
Cap Rate5.8
Carport Y/NNo
CityLos Angeles
CoolingWallWindowUnits
CountyLos Angeles
DirectionsProperty is near the intersection of N Hoover St. and Hyperion Ave. in Silver Lake.
Electric On Property Y/NNo
Full Baths
Garage Y/NNo
Gross Income133800.0
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet7514.0
Lot Size UnitsSquareFeet
MLS AreaC21 - Silver Lake - Echo Park
MobileHomeRemainsYNNo
Net Operating Income97773.0
New ConstructionNo
Number Of Units Total4
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tenant PaysElectricity, Gas
Year Built1916
ZoningLARD2

Exterior for 756 Hyperion Avenue

Building Area Total3570.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1725
Lot Size Area7514.0
Number of Buildings2
Open Parking Y/NNo
Parking FeaturesOnStreet
Private PoolNo
SpaNo
Total Parking4.0
Waterfront Y/NNo

Additional Details

Price History

Alexandra Eston

Sales Associate
Price $1,350,000
MLS#24364747
List Date 03/04/2024
Property Type Multi-Family
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