316 N Virgil Ave, Los Angeles, California 90004, Los Angeles, 90004 - 6 bed, 4 bath

316 N Virgil Ave, Los Angeles, California 90004 home-pic-0
ACTIVE$1,089,900
316 N Virgil Ave, Los Angeles, California 90004
6Beds
4Baths
1,278Sqft
7,168Lot
Year Built
1913
Close
-
List price
$1.09M
Original List price
$1.09M
Price/Sqft
$853
HOA
-
Days on market
-
Sold On
-
MLS number
SR25079972
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.09M(33th), sqft - 1278(33th), beds - 6(67th), baths - 4(67th).

Located just steps from the heart of Silver Lake, this duplex presents a rare opportunity for investors, developers, or savvy buyers looking to add value in one of Los Angeles' most desirable neighborhoods. Situated on a generous lot, this property offers strong income potential as-is, with plenty of upside for future renovation, expansion, or redevelopment. Each unit has its own entrance and layout, providing flexible living arrangements and the chance to upgrade for increased rental returns. With original features throughout and slight updates, this is a true blank canvas for those looking to bring their vision to life. Set in a high-demand rental area bordering Silver Lake, tenants are drawn to the location's walkability, culture, and creative energy. The surrounding neighborhood is home to trendy coffee shops, local boutiques, art galleries, and some of LA’s best dining, all just minutes away.

Price History

Date
Event
Price
04/24/25
Listing
$1,089,900
Condition Rating
Poor

Built in 1913, the property description highlights 'original features throughout and slight updates,' and calls it a 'true blank canvas for future renovation, expansion, or redevelopment.' While it has 'strong income potential as-is,' this suggests a very basic and outdated condition. The absence of interior images, particularly of kitchens and bathrooms, strongly implies these areas are significantly dated and require full renovation. Given its age and the description, major systems (electrical, plumbing, HVAC) are likely at or past their expected lifespan and would require substantial rehabilitation to meet modern standards and comfort, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Prime Silver Lake Location: Situated in a highly desirable, walkable area bordering Silver Lake, offering immediate access to trendy amenities, culture, and dining, ensuring strong tenant appeal.
Significant Value-Add Potential: Presents a rare opportunity for investors and developers to renovate, expand, or redevelop, maximizing returns in a high-demand market.
Strong Income Property: As a duplex in a high-demand rental market, it offers immediate income potential with clear pathways to increase rental returns through upgrades.
Generous Lot Size: The substantial 7,168 sqft lot provides ample space for potential expansion, additional units, or enhanced outdoor living areas.
Flexible Duplex Configuration: Two distinct units with separate entrances offer flexible living arrangements and cater to diverse rental needs, enhancing its appeal as an income property.

Cons

Extensive Renovation Required: Described as a 'blank canvas' with 'original features' from 1913, indicating significant investment will be needed for modernization and potential system upgrades.
Age of Property: Built in 1913, the property's age suggests potential for outdated infrastructure, and the need for comprehensive inspections for lead paint, asbestos, or other historical building concerns.
Lack of Specific Views: The property does not offer any notable views, which could be a missed opportunity for added value in a desirable Los Angeles location.

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