756 Hyperion Avenue

Los Angeles, CA 90029

PRICE REDUCED

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-$275,000 (-13.41%)

$1,775,000

List Price

7

bed Beds

5

shower Baths

3,570 sqft

straighten / sqft

1916

calendar_month Built

Open Houses

Next available: Tuesday, November 12th, 2024 11:00 am - 1:00 pm • Info

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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

Listing Information

List Price $1,775,000
Status Active
MLS 24364747
Type Residential Income
Year Built 1916
Lot Size 7,514
Structure Size 3,570
DOM 162
Courtesy Of Keller Williams Realty Downey
Listing Agent Michael R. Fukushima DRE#01380445
Co-Listing Agent Stephen F. Watson DRE#01187813

Interior Features

Total Bedroom
Bedrooms 7
Total Bathroom
Bathrooms 5
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Michael R. Fukushima, Stephen F. Watson, Keller Williams Realty Downey 818-321-6490. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 1st, 2024 at 11:47 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.