Property Details
About this Property
Discover an exceptional business opportunity in a prime Los Angeles location! Recently approved by the Historical Preservation Overlay Zone (HPOZ) and pending one final review with LADBS, the property’s renovation plans include converting it to a 12-bedroom, 5-bathroom SFR. The scope of work features upgrades to plumbing, electrical (where needed), and roofing, as well as complete renovations of all bathrooms, kitchen, flooring, and paint throughout, enhancing fit and finish in every room. This historical Craftsman property in the heart of Pico-Union District currently stands as an 11-room rooming house with 5 bathrooms and offers substantial rental income potential. Located minutes from USC, Downtown LA, Crypto Arena, and Koreatown, it's perfectly positioned for student housing, short-term renters, or urban professionals. With flexible LARD1.5 zoning, permitted uses of the home include Boarding House, Hotel, Transient Lodgings, and Hostel. However, Investors have the unique advantage of maximizing income potential by also tapping into Los Angeles city programs to fund housing for the homeless in all 12 bedrooms, creating income while positively impacting the community, or develop the property as housing for USC students and other nearby colleges and trade schools. Income pot
MLS Listing Information
MLS #
CRGD24237114
MLS Source
California Regional MLS
Days on Site
2
Interior Features
Appliances
Other
Exterior Features
Pool
None
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | 1 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1324 S Westlake Ave is a Residential Income in Los Angeles, CA 90006. This – square foot property sits on a 8,669 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,288,000 and was built in 1903. This address can also be written as 1324 S Westlake Ave, Los Angeles, CA 90006.
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This listing information is up-to-date as of November 20, 2024. For the most current information, please contact Rafael Gevorkian, (818) 246-1099
