1324 South Westlake Ave Los Angeles, CA 90006
- Listed Price : $1,288,000
-
Beds :
12
-
Baths :
5
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Property Size :
4,232 sqft
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Year Built :
1903
Property Description
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 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!
Listing Information
| Address | 1324 South Westlake Ave |
| City | Los Angeles |
| State | CA |
| Zip | 90006 |
| County | Los Angeles |
| Listing Agent | Rafael Gevorkian DRE #01783621 |
| Courtesy Of | JohnHart Real Estate |
| List Price | $1,288,000 |
| Status | Active |
| Type | Commercial |
| Structure Size | 4,232 sqft |
| Lot Size | 8,676 sqft |
| Year Built | 1903 |
Listing information courtesy of: Rafael Gevorkian, JohnHart Real Estate. *Based on information from the Association of REALTORS/Multiple Listing as of 12/04/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.