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$ 1,350,000
Est. payment /mo
Active
823 Hyperion Ave Los Angeles, CA 90029
7,503 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26637415
Lot Size 7,503 Sqft
Acres 0.1722
Property Description
PRICE REDUCED! We are pleased to present a prime R3, TOC Tier 3 development opportunity in the heart of Silver Lake! Located just steps from the highly desirable Sunset Junction, this vacant 7,500 SF lot offers exceptional upside in one of Los Angeles' most in-demand rental markets. The property allows for the development of 9 units by right, or up to 21 units utilizing TOC Tier 3 incentives, plus potential ADUs (buyer to verify). The site features ideal 50' x 150' lot dimensions, and key pre-development work has already been completed, including rough grading, survey, and soils report, providing meaningful savings in both time and upfront costs. With no existing structures, the site offers a rare opportunity to avoid rent stabilization, tenant relocation, and demolition expenses. The property may also be well-suited for a 100% affordable ED1 project, offering additional flexibility and potential entitlement advantages. Surrounded by significant new development, the area benefits from strong rental demand, with nearby lease comps averaging approximately $3.50 per square foot. The location provides convenient access to Echo Park, Koreatown, Downtown Los Angeles, and is just moments from the vibrant restaurants, cafes, entertainment, and shopping along Sunset Boulevard. Do not miss this exceptional opportunity to build in one of Los Angeles' most desirable and supply-constrained neighborhoods. Buyer to verify all zoning, density, and development potential with LADBS. Contact listing agent for additional details!
Location
State CA
County Los Angeles
Area Silver Lake - Echo Park
Zoning LAR3
Exterior
View Y/N Yes
View City
Others
Special Listing Condition Standard
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Listed by Keller Williams Beverly Hills