1159 N Virgil Ave, Los Angeles, CA 90029

4 Units near Silver Lake | Sold 100% Vacant | Room For 4 ADUs (SB 1211) | 2nd Time Sold in 37 Days!

Sold: $1,562,626

Property Highlights

4 Units built in 1924 with 100% vacancy at close of escrow
Previously closed 1/14/25 for $1,240,000; our team sold the property twice in 37 days!
22 Day Fully Non-Contingent Transaction
Buyer secured high LTV bridge construction financing with Genesis Bank
Helped Seller facilitate two tenant cash-for-keys buyouts
Sold 100% vacant with room to build four ADUs in the back of the lot by leveraging new SB-1211 ADU law
Buyer plans to convert existing 1-bedroom units into 2-bedroom units and build a 4-unit detached ADU structure on the lot, doubling the unit count
3,456 SqFt Property; Units average 864 Sqft Each
Property re-piped to copper plumbing in 2023
New roof installed in 2023; four new water heaters (2024)
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. Sold for $1,562,626, this is the 2nd time our team has sold this property within the past 2 months.

The transaction was fully non-contingent from Day 1 and closed within 22 days off market. The buyer secured high LTV bridge construction financing with Genesis Bank. The property sold for $390K per unit and $452/SF. Notably, we previously closed this same property on 1/14/25 for $1,240,000, meaning our team sold it twice in just 37 days!

We also helped the Seller facilitate two cash-for-keys tenant buyouts, resulting in a 100% vacant asset at close of escrow!

Built in 1924, the 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 0.15-acre lot with significant potential for development. Notably, the buyer plans to convert the existing 1-bedroom units into 2-bedroom units and leverage the new SB-1211 ADU law to construct a 4-unit detached ADU structure in the back, effectively doubling the unit count.

Key property upgrades include a complete re-piping to copper plumbing in 2023, a new roof installed the same year, and four new water heaters in 2024, two of which are tankless. Additionally, each unit has its own washer/dryer hookups.
Located just blocks away from Erewhon Market and the trendy Silver Lake coffee shops and restaurants, 1159 N Virgil Ave offers residents an ideal blend of urban vibrancy and neighborhood charm. With its proximity to East Hollywood, boutique shops, and a thriving dining scene, this property represents a rare opportunity for the buyer to double his unit count in a prime LA location.

If you are interested in exploring a similar 1031 exchange opportunity or learning more about how we can help you maximize your investment portfolio, contact The Glaser Group.