1159 N Virgil Ave, Los Angeles, CA 90029

4 Units near Silver Lake | Facilitated Two Tenant Buyouts | 100% Vacant at Close

Sold: $1,240,000

Property Highlights

4 Units built in 1924 with 100% vacancy at close of escrow
Helped buyer facilitate two tenant cash-for-keys buyouts during escorw
3,456 SqFt Property; Units average 864 Sqft Each
Mix of of all large 1-bedroom / 1-bath units
Large lot with room for up to 4 detached ADUs
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

The Deal Story

The Glaser Group is pleased to announce the successful closing of 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 up to (4) four detached additional dwelling units (ADUs).

Our team represented an out-of-area family trust in the sale of the asset after a recent inheritance. When we first took on the listing, the property had two vacant and two in-place low paying tenants, who were paying about $500 each per month. We were able to help the buyer facilitate two cash-for-keys tenant buyouts that were favorable to both parties, resulting in a 100% vacant asset at close of escrow! The buyer’s goal is to acquire plans for a 4-unit ADU structure in the back of the lot, further increasing future value potential.

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. 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.