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Multifamily

1001 Hyperion Ave

1001 Hyperion Ave, Los Angeles, CA 90029

Listing Price: $4,500,000

Cap Rate
6.76%
Number of Units
16
GRM
10.97
Occupancy
100.0%
Price/Unit
$281,250
Price/Gross SF
$510.90
Gross SF
8,808

Investment Overview

Marcus and Millichap is pleased to present a sixteen (16) unit apartment building located at 1001 Hyperion Avenue in Los Angeles, California. The subject property is located in a prime Silver Lake location, just south of Sunset Junction and east of N Hoover Street.

Silver Lake is an Eastside neighborhood that fully embraces the hipster lifestyle. Although often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir that is ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, in close proximity to Hollywood and Downtown Los Angeles and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene. Residents also enjoy the easy access to sought-after outdoor spaces such as Silver Lake Meadows, Silver Lake Dog Park, Barnsdall Art Park, Bellevue Park Basketball Courts, Echo Park, and Elysian Park. The famous Elysian Park is home to Secret Swing Angels Point, Dodger Stadium, Victory Memorial Grove, Radio Hill, and is adjacent to Los Angeles State Historic Park.

Built in 1924, this property contains a solid unit mix of four (4) studio / one-bathroom units, eight (8) junior one-bedroom / one-bathroom units, and four (4) larger one-bedroom / one-bathroom units. Seven (7) units will be delivered vacant, with select units being fully renovated and ready for immediate lease-up. The property is on a rare corner lot within one (1) block from the height of Silver Lake living at Sunset Junction, featuring some of the trendiest retail, restaurant, and entertainment amenities in Los Angeles. Some of these amenities include Intelligentsia Coffee, Warby Parker, Tartine Silver Lake, The Black Cat, Maison Kitsune LA, Naturewell Vegan Juice, and many more. This character, Spanish style building also contains a private office space accessible from the on-site parking lot, right next to the large on-site laundry room. Past the private office is a sprawling basement space with a wide variety of potential uses to add value.

Situated in a prime Silver Lake location, this offering presents an excellent opportunity for any investor to capitalize on a rare, mid-size asset with ample value-add potential in one of the trendiest markets of Los Angeles.

Investment Highlights

  • Prime Silver Lake Location
  • Just Steps Away from Sunset Junction While Being on a Quiet Residential Corridor
  • Character, Spanish Style Architecture
  • Will Be Delivered with Seven (7) Vacant Units
  • Great Initial Cash Flow After Lease Up - 6.00% Cap Rate
  • Building Features Private Office Space Available for Additional Income
  • Incredible Value-Add Potential in Large Basement Area - Wide Variety of Potential Uses
  • Large On-Site Laundry Room Available - On-Site Gated Parking Lot Available

Exclusively Listed By

Financing By

Multifamily

1001 Hyperion Ave

Listing Price: $4,500,000

Cap Rate
6.76%
Number of Units
16
GRM
10.97
Occupancy
100.0%
Price/Unit
$281,250
Price/Gross SF
$510.90
Gross SF
8,808

Investment Highlights

  • Prime Silver Lake Location
  • Just Steps Away from Sunset Junction While Being on a Quiet Residential Corridor
  • Character, Spanish Style Architecture
  • Will Be Delivered with Seven (7) Vacant Units
  • Great Initial Cash Flow After Lease Up - 6.00% Cap Rate
  • Building Features Private Office Space Available for Additional Income
  • Incredible Value-Add Potential in Large Basement Area - Wide Variety of Potential Uses
  • Large On-Site Laundry Room Available - On-Site Gated Parking Lot Available

Investment Overview

Marcus and Millichap is pleased to present a sixteen (16) unit apartment building located at 1001 Hyperion Avenue in Los Angeles, California. The subject property is located in a prime Silver Lake location, just south of Sunset Junction and east of N Hoover Street. Silver Lake is an Eastside neighborhood that fully embraces the hipster lifestyle. Although often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir that is ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, in close proximity to Hollywood and Downtown Los Angeles and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene. Residents also enjoy the easy access to sought-after outdoor spaces such as Silver Lake Meadows, Silver Lake Dog Park, Barnsdall Art Park, Bellevue Park Basketball Courts, Echo Park, and Elysian Park. The famous Elysian Park is home to Secret Swing Angels Point, Dodger Stadium, Victory Memorial Grove, Radio Hill, and is adjacent to Los Angeles State Historic Park. Built in 1924, this property contains a solid unit mix of four (4) studio / one-bathroom units, eight (8) junior one-bedroom / one-bathroom units, and four (4) larger one-bedroom / one-bathroom units. Seven (7) units will be delivered vacant, with select units being fully renovated and ready for immediate lease-up. The property is on a rare corner lot within one (1) block from the height of Silver Lake living at Sunset Junction, featuring some of the trendiest retail, restaurant, and entertainment amenities in Los Angeles. Some of these amenities include Intelligentsia Coffee, Warby Parker, Tartine Silver Lake, The Black Cat, Maison Kitsune LA, Naturewell Vegan Juice, and many more. This character, Spanish style building also contains a private office space accessible from the on-site parking lot, right next to the large on-site laundry room. Past the private office is a sprawling basement space with a wide variety of potential uses to add value. Situated in a prime Silver Lake location, this offering presents an excellent opportunity for any investor to capitalize on a rare, mid-size asset with ample value-add potential in one of the trendiest markets of Los Angeles.

Exclusively Listed By

Financing By

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