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Josh Canova

josh.canova@evrealestate.com +1(858) 361-7010

$ 1,000,000

Est. payment -/mo

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Active

1324 S Westlake AVE Los Angeles, CA 90006

8,668 Sqft Lot

UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID GD25118136

HOA Y/N No

Year Built 1903

Lot Size 8,668 Sqft

Property Sub-Type Mixed Use

Property Description

Discover an exceptional business opportunity in a prime Los Angeles location! Recently approved by the Historical Preservation Overlay Zone (HPOZ) and LADBS for the property's renovation plans where 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 8-room 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. The home also an oversized formal living room and dining room with original historical architecture and high ceilings. The home has central heating throughout and includes plenty of off street parking and a perimeter security fence. With flexible LARD 1.5 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 8 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 potential from multiple sources. This property is ideal for investors seeking stable income and potential future development in one of LA's most vibrant neighborhoods. Don't miss out on owning a piece of LA history with high yield‌‌‌‌‌‌‌‌‌‌‌‌ potential!

Location

State CA

County Los Angeles

Area Phht - Park Hills Heights

Zoning LARD1.5

Interior

Fireplace No

Laundry Inside

Exterior

Parking Features Uncovered

Pool None

Community Features Sidewalks

View Y/N No

View None

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5135004002

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Listed by Marlin Dginguerian JohnHart Real Estate 818-415-1516

Josh Canova

Advisor | License ID: C135485

+1(858) 361-7010

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