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825 Hyperion Ave 0.52 Acres of Residential Land Offered at $5,499,000 in Los Angeles, CA 90029
EXECUTIVE SUMMARY
Northmarq, as the exclusive listing agent, is pleased to present the opportunity to purchase 825-837 Hyperion Avenue – a rare mid-size Readyto-Issue permit multifamily development opportunity located in the heart of Silverlake.
The three-parcel offering totals 22,651 square feet (.52 acres) and is zoned R3-1VL. The project is fully entitled and can be delivered with Ready-to-Issue (“RTI”) permits to construct a boutique-luxury 51-unit apartment community.
Hyperion Residences was thoughtfully designed with market rate units comprised of (21) 1-bedroom units, (21) two-bedroom units, and four (4) 3-bedroom units. In addition, five units have been set aside as affordable units (2) 1-bedrooms, (2) 2-bedrooms, and (1) 3-bedroom unit.
Additionally, the existing site offers flexibility for re-entitlement with the usage of CHIP incentives to add additional floor area and height with zero density controls under Los Angeles’ newly approved housing ordinance.
The three-parcel offering totals 22,651 square feet (.52 acres) and is zoned R3-1VL. The project is fully entitled and can be delivered with Ready-to-Issue (“RTI”) permits to construct a boutique-luxury 51-unit apartment community.
Hyperion Residences was thoughtfully designed with market rate units comprised of (21) 1-bedroom units, (21) two-bedroom units, and four (4) 3-bedroom units. In addition, five units have been set aside as affordable units (2) 1-bedrooms, (2) 2-bedrooms, and (1) 3-bedroom unit.
Additionally, the existing site offers flexibility for re-entitlement with the usage of CHIP incentives to add additional floor area and height with zero density controls under Los Angeles’ newly approved housing ordinance.
PROPERTY FACTS Under Contract
| Price | $5,499,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.52 AC |
| Property Type | Land | No. Stories | 1 |
| Zoning | R3-1VL - restricted Density Multiple Dwelling | ||
| Price | $5,499,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.52 AC |
| No. Stories | 1 |
| Zoning | R3-1VL - restricted Density Multiple Dwelling |
1 LOT AVAILABLE
Lot 3
| Price | $5,499,000 | Lot Size | 0.52 AC |
| Price Per AC | $10,575,000.00 |
| Price | $5,499,000 |
| Price Per AC | $10,575,000.00 |
| Lot Size | 0.52 AC |
A 51-Unit RTI Development Opportunity Located in Silverlake Recently Up-Zoned Under Newly Approved CHIP Ordinance
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Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 5427-009-008 | Improvements Assessment | $0 |
| Land Assessment | $2,498,978 | Total Assessment | $2,498,978 |
PROPERTY TAXES
Parcel Number
5427-009-008
Land Assessment
$2,498,978
Improvements Assessment
$0
Total Assessment
$2,498,978
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825 Hyperion Ave
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