946 Hyperion Avenue
Los Angeles, CA, 90029
$1,495,000
Original list price: $1,595,000
MLS: 26881833
Beds
6
Baths
5
Sq Ft
2,318
Lot
0.17 ac
Year Built
1920
MLS #
26881833
Days on Market
38
Listed
Aug 27, 2026
Description
A rare four-unit property in the sought-after Silver Lake neighborhood, this distinctive compound features four freestanding bungalows, private outdoor spaces, and six on-site parking spaces just moments from Sunset Boulevard. The configuration includes two 2-bed bungalows (Units 946 and 946 3/4 ) and two 1-bed bungalows (Units 948 and 948 1/2), with the rear 2-bed, 1-bath residence (Unit 946 3/4) currently vacant and available for an owner-user or immediate lease-up. Current gross rental income is $6,405 per month ($76,860 annually), with projected market rents of approximately $10,500 per month ($126,000 annually), offering compelling flexibility and upside in one of Los Angeles' most desirable rental markets. At the front of the property, Unit 946 sits privately behind mature hedging and features 2 beds, 2 baths, and its own outdoor area. Beyond the wrought-iron gate, a shared sitting area provides a welcoming central gathering space, while Unit 948, a 1-bed, 1-bath bungalow, sits separately to the left. Further into the property, the vacant Unit 946 3/4 offers 2 beds and 1 bath and has recently been refreshed with new bamboo flooring and fresh interior paint. The spacious kitchen features abundant cabinetry and granite countertops, while both bedrooms are generously proportioned. The bathroom retains a classic clawfoot tub with shower, and an in-unit washer and dryer adds convenience. Direct access from both the kitchen and rear bedroom leads to a private gated outdoor area with a covered pergola, creating an additional extension of the living space. Unit 948 1/2, a 1 bed, 1 bath bungalow, is also positioned toward the rear of the property and includes its own private backyard patio. Additional amenities include a shared outdoor laundry area, communal sitting space, and a front parking lot with six dedicated spaces - an especially valuable feature in this central Silver Lake location. With four separate residences rather than a traditional multi-unit configuration, the property offers numerous possibilities for an investor, an owner-user, or a multi-generational household. The vacant rear bungalow provides immediate flexibility, while the existing income and potential market rents offer an opportunity to further optimize the property over time. Ideally located near Sunset Boulevard and some of Silver Lake's most popular destinations, including Bacari, Erewhon, and Intelligentsia, the property offers convenient access to neighborhood cafes, restaurants, shopping, and nearby outdoor recreation.
Location
Los Angeles, Los Angeles County, CA 90029
Open on Google Maps ↗Listed by: Lori Harris · Keller Williams Realty Los Feliz
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$11,734
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $149,500 · Loan: $1,345,500
Average 30-yr fixed rate 7.40% as of Oct 15, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $9,316
- Property tax (1.25%)
- $1,557
- Homeowners insurance
- $300
- Mortgage insurance
- $561
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 15, 2026
- 30-year fixed
- 7.40%
- 15-year fixed
- 6.71%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Los Angeles home with as little as 3.5% down using an FHA loan — roughly $52,325 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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