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938 Hyperion Avenue, Los Angeles, California 90029, Los Angeles, 90029 - 2 bed, 1 bath

938 Hyperion Avenue, Los Angeles, California 90029 home-pic-0
ACTIVE$899,000
938 Hyperion Avenue, Los Angeles, California 90029
2Beds
1Bath
1,045Sqft
7,320Lot

Price Vs. Estimate

The estimated value ($779,527.13) is $119,472.87 (13%) lower than the list price ($899,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7320, living area = 1045.
Top Cons:
Probate Sale & Court Confirmation: The sale is subject to probate and requires court confirmation, which can lead to extended timelines and potential complexities in the transaction process.

Compared to the nearby listings

Price:$899.0K vs avg $970.0K ($-71,000)38%
Size:1,045 sqft vs avg 1,582 sqft19%
Price/sqft:$860 vs avg $67081%

More Insights

Built in 1941 (84 years old).
Condition: Built in 1941, this property is over 80 years old with no indication of major renovations. The MLS description explicitly states the existing structure is 'likely considered a tear-down or requires extensive renovation' and emphasizes the value lies in the 'expansive, nearly 7,500 sq. ft. premier lot' for development. The absence of interior photos further supports the conclusion that the existing home is not a selling point and is likely unlivable or beyond repair, making its value solely based on the land.
Year Built
1941
Close
-
List price
$899K
Original List price
$899K
Price/Sqft
$860
HOA
-
Days on market
-
Sold On
-
MLS number
25592521
Home ConditionTear down
Features
View-

About this home

Probate sale with court confirmation required. Presenting a rare and extraordinary opportunity to build a landmark property in the heart of Silver Lake. This is an expansive, nearly 7,500 sq. ft. premier lot with an existing single family home on the site. The property's value is magnified by its unbeatable location, situated just moments from the iconic Sunset Junction. Immerse yourself in one of LA's most dynamic and walkable neighborhoods, with Erewhon, Intelligentsia, the Silver Lake Farmers' Market, and countless acclaimed restaurants and boutiques just a short stroll away. This is more than just land; it's the chance to create a legacy property in an A+ location. An unparalleled opportunity for the discerning developer or future homeowner. *Sold subject to tenants-in-place and will not be delivered vacant at close of escrow. Current rental amount is $1,900/month**

Condition Rating
Tear down
Built in 1941, this property is over 80 years old with no indication of major renovations. The MLS description explicitly states the existing structure is 'likely considered a tear-down or requires extensive renovation' and emphasizes the value lies in the 'expansive, nearly 7,500 sq. ft. premier lot' for development. The absence of interior photos further supports the conclusion that the existing home is not a selling point and is likely unlivable or beyond repair, making its value solely based on the land.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7320, living area = 1045.
Prime Silver Lake Location: Unbeatable location in the heart of Silver Lake, moments from the iconic Sunset Junction, a dynamic and highly desirable neighborhood.
Expansive Development Lot: Nearly 7,500 sq. ft. premier lot offering a rare and extraordinary opportunity to build a landmark or legacy property.
Exceptional Walkability & Amenities: Highly walkable neighborhood with immediate access to popular establishments like Erewhon, Intelligentsia, the Silver Lake Farmers' Market, and numerous acclaimed restaurants and boutiques.
Significant Investment/Development Potential: Presents an unparalleled opportunity for discerning developers or future homeowners to create substantial value in an A+ location.
High Demand Area: Located in one of LA's most sought-after and dynamic neighborhoods, ensuring strong future appreciation and desirability.

Cons

Probate Sale & Court Confirmation: The sale is subject to probate and requires court confirmation, which can lead to extended timelines and potential complexities in the transaction process.
Tenants-in-Place & Non-Vacant Delivery: The property will not be delivered vacant at close of escrow due to existing tenants, requiring the buyer to manage tenant relations and potential eviction processes.
Outdated Existing Structure: The 1941-built, 1045 sqft home is likely considered a tear-down or requires extensive renovation, adding significant cost and time to any development plans.

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