823 Hyperion Avenue, Los Angeles, CA 90029

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!

Listing description from the July 2026 sale, as reported to CRMLS.

Sale history

$1,000,000

Sold July 2026 · listed $1,350,000, orig. $1,600,000, on market January 2026, 133 days on market · MLS #26637415 · Source: CRMLS

Listing Agent: Daniel Shamooelian · Listing Office: Keller Williams Beverly Hills · Contact: 310-432-6400 · Bought with: Andrei Rafols · Beverly & Company Luxury Properties

$1,420,000

Sold December 2020 · listed $1,490,000, on market November 2020, 1 days on market · MLS #20654482 · Source: CRMLS

Listing Agent: Giovanni Herrera · Listing Office: Citi Homes Realty, Inc. · Contact: 213-427-7799 · Bought with: Giovanni Herrera · Citi Homes Realty, Inc.

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