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$1,300,000
Est. payment /mo
4 Beds
4 Baths
3,456 SqFt
UPDATED:
12/05/2024 05:14 AM
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 3,456 sqft
Price per Sqft $376
MLS Listing ID 24456913
Bedrooms 4
HOA Y/N No
Year Built 1924
Lot Size 6,703 Sqft
Property Description
1159 N Virgil Ave, a well-positioned quadruplex located in the highly desirable Virgil Village neighborhood of Los Angeles, adjacent to Silver Lake & Los Feliz. Built in 1924, this property offers a mix of four large 1-bedroom/1-bath units, each averaging 864 square feet. Spanning 3,456 square feet in total, the property sits on a large 0.15-acre lot, providing significant potential for the construction of (4) four detached additional dwelling units (ADUs), subject to buyer verification.The property has undergone key upgrades, including a complete re-piping to copper plumbing in 2023, and a new roof installation in the same year. Additionally, each unit has its own washer/dryer hookups, and four new water heaters were installed in 2024, two of them being tankless. With two units currently vacant and fully remodeled, there is an immediate opportunity to owner-occupy or re-lease at market rents, further increasing the income potential. There is also currently room for four uncovered parking spaces in the back of the lot off of the alley.Located just blocks away from the popular Erewhon Market and the trendy coffee shops and restaurants of Silver Lake, 1159 N Virgil Ave offers residents an ideal blend of urban vibrancy and neighborhood charm. The property's proximity to East Hollywood, boutique shops, and a thriving dining scene makes it a prime choice for investors seeking a foothold in one of Los Angeles' most in-demand rental markets.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR2
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Fireplace No
Appliance Dryer, Washer
Exterior
Parking Features Uncovered
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5542026027
Special Listing Condition Standard
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Listed by Jake Glaser • Lyon Stahl Investment Real Estate, Inc.
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