1163 Hyperion Avenue

Description

We are pleased to present a unique investment opportunity: a 5-unit multi-family property located in the heart of Silver Lake, just steps from the iconic Sunset Blvd and Sunset Junction. With a GRM of 10.08, a Cap Rate of 6.57%, and a Cash-on-Cash Return of 5.8%, this property offers investors strong returns with significant upside potential. Built in 1924/1923, the property features three single-story detached buildings, consisting of (3) 1Bedroom & 1 Bath units, (1) 3-Bedroom & 1-Bath unit, and (1) 2-Bedroom & 1-Bath unit. The total square footage is approximately 2,677, situated on a 6,461 SF lot. Located in a residentially zoned area with permit street parking for residents (Buyer to Verify), the property also offers tenants (4)Garage parking spaces. One unit will be delivered vacant. For the savvy investor, there is substantial value-add potential, including the possibility of adding one ADU unit, with an estimated upside of approximately 51% (buyer to verify feasibility). The property is zoned RD2-1VL.Strategically positioned in the vibrant core of Silver Lake with a walk score of 94 ("Walker's Paradise"),tenants will enjoy close proximity to premier retail corridors on Sunset Blvd, as well as convenient access Hollywood & Los Feliz. **Disclosure:** Buyers are advised to conduct thorough due diligence, including verification of building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, soft-story compliance, and the feasibility of constructing ADUs or additional units.**DO NOT DISTURB TENANTS OR WALK ON PROPERTY-DRIVE BY ONLY**

Listing information courtesy of: Eric Dilanian, Remax Commercial and Investment Realty . *Based on information from the Association of REALTORS/Multiple Listing as of 09/19/2024 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.