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… Read More 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 Read Less
Property listed by Keller Williams Realty Downey, Michael R. Fukushima 562-334-1500
Listing Snapshot
Days Online
188
Last Updated
Property Type
Other
Beds
7
Square Ft.
3,570
Lot Size
0.17 Acres
Year Built
1916
MLS Number
24364747
30 Days Snapshot Of 90029
$995k
-15%
(avg) sold price
3
0%
homes sold
38
-62%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1916, Building area total: 3,570, Levels: MultiSplit, Living area: 3570, 2 buildings
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross income: $133,800, Net operating income: $97,773
Lot
0.1725 acres, 7,514 square feet, Size: 7,514
Parking
4 totals parking, OnStreet
Property
Zoning: LARD2
Tenant Pays
Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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