1159 N Virgil Ave - Apartments FOR SALE


Los Angeles, CA 90029
$1,300,000 USD
347-461-6043
1159 N Virgil Ave, Los Angeles, CA for Sale
$1,300,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

1159 N Virgil Ave
Los Angeles, CA 90029


HIGHLIGHTS

  • 4 Units built in 1924 with two remodeled vacants; 3,456 SqFt Property, Units average 864 Sqft Each
  • Mix of of all large 1-bedroom / 1-bath units; Large lot with room for 4 detached ADUs (buyer to verify)
  • Property re-piped to copper plumbing in 2023 ; New roof installed in 2023, four new water heaters (2024)
  • Four uncovered parking spots in back of lot off alley; Great East Hollywood location near Virgil Village and shops & restaurants of Silver Lake
  • A few blocks from Erewhon, coffee shops, trendy shops and restaurants. Great Rental Market
  • Two units fully remodeled with new flooring, updated kitchens, baths, fixtures, etc. ; Washer/dryer hookups in all units

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$376 USD /SF

# OF UNITS

4

PRICE/UNIT

$325,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,390 SF

ZONING

-

APN/PARCEL ID

5542-026-027

ASK ABOUT THIS PROPERTY

Jake GlaserLyon Stahl Investment Real EstateMore Info
347-461-6043

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Jake GlaserLyon Stahl Investment Real EstateMore Info
347-461-6043

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.