Property listed by Keller Williams Larchmont, Vinnie Park 323-762-2600
$949,800
DELIVERED FULLY VACANT. Don't miss this rare chance to own a high-performing income property with immediate upside near the heart of Downtown Los Angeles. This legal duplex has been improved with five legally converted bedrooms into independent units per LADBS, effectively operating as seven existing units in total two 1-bedroom… Read More units and five studios. This would be a two-family and five guest room dwelling, with R Occupancy per the Cirtificate of Occupancy by City of Los Angeles. The property already delivers strong rental demand and consistent cash flow, with five units to be delivered vacant offering investors immediate flexibility for lease-up, repositioning, or redevelopment. It sits on a generous 8,007 sq. ft. RD1.5-zoned lot and comes with proposed plans for four additional units, allowing investors to unlock the full potential of the huge backyard with wide alley access. Once completed, the four ADUs are expected to generate approximately $10,000 per month in additional rental income, creating a powerful long-term value-add opportunity while benefiting from the property's existing income stream.Investment highlights include an attractive CURRENT APPX 10% CAP rate and 7.93 GRM, with ample parking for up to 10 vehicles via alley access in the rear parking area. Located in a high-demand rental market near DTLA, USC, and major freeways, this property offers a rare combination of immediate income, development upside, and strong projected returns. With proposed plans in place, full vacancies, and significant future income potential, this property is truly priced to sell and will not last. Rendering images are for illustrative purposes only and may not reflect the current property or finished product. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
6
Square Ft.
2,780
Lot Size
0.18 Acres
Year Built
1901
MLS Number
26640515
Additional Details
Building
Built in 1901, Living area: 2780.0, 1 building, 2 stories, Levels: Two
Cooling
None
Heating
WallFurnace
Income
Gross Income: $12,600, Net Operating Income: $97,082
Lot
0.1838 acres, Dimensions: 50x159
Parking
10 total parking spaces, Assigned
Taxes
Parcel Number: 5135011017, Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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