823 Hyperion Avenue

Los Angeles CA 90029

7503 sq. ft.

Land

Last sold for $1,000,000

Daniel Shamooelian, last sold this property on 29 July 2026 after 195 days on market.

Overview

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!

Features

7503 sq. ft. lot size

Land

Estimated Value

Based on this property and similar land plots sold in Los Angeles over the last 12 months, the estimated median property value of 823 Hyperion Avenue is $1m.

Median value

$1m

Estimated value range

$930k - $1.32m

Median days on market

Estimated value trend

-13%

decrease over the last 12 months

Average days on market is based on recent, comparable sales in Los Angeles. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 823 Hyperion Avenue

2026

Sold

$1,000,000

29 Jul 2026 by Daniel Shamooelian, of Keller Williams Beverly Hills

2020

Sold

$1,420,000

17 Dec 2020 by Giovanni Herrera, of Citi Homes Realty, Inc.

Happy sellers in Los Angeles

We have insufficient information to provide an overview of customer satisfaction for Los Angeles. Viewing the agent profiles, reviews and sales for Los Angeles can provide insights for this location.