1324 S Westlake Avenue
Los Angeles, CA 90006
- – beds
- – baths
- – sqft
- 8,669 sqft lot
- 1903 build
- – on site
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!
Last checked:
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Last updated Nov 20, 2024
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MLS# GD24237114 —
The Building
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Year Built:1903
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Year Built Source:Assessor
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New Construction:No
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Entry Level:1
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Common Walls:No Common Walls
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Building Area Total:4232.00
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Building Area Units:Square Feet
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# of Buildings:1
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Total Number Of Units:1
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Stories Total:2
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# of Separate Gas Meters:1
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# of Separate Water Meters:1
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# of Separate Electric Meters:1
Interior
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Levels:Two
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Entry Location:steps
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Laundry:Inside
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Laundry:1
Location
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Directions:Pico Blvd & S Alvarado St
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Latitude:34.04579100
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Longitude:-118.28176200
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Zoning:LARD1.5
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Lot Features:0-1 Unit/Acre
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Lot Size Area:8669.0000
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Lot Size Acres:0.1990
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Lot Size SqFt:8669.00
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Lot Size Source:Assessor
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View:None
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:B
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Tax Census Tract:2243.10
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Tax Tract:224310
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Tax Lot:11
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5135004002
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Senior Community:No
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Features:Sidewalks
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Pool:None
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Private Pool:No
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Spa Features:None
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Assessments:No
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Assessments:None
Parking
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Parking:Yes
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Parking:Uncovered
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/19/24
Nov 19, 2024
|
Listed / Active | CRMLS_CA | $1,288,000 | |
|
3/28/24
Mar 28, 2024
|
Listed / Active | CRMLS_CA | ||
|
6/27/13
Jun 27, 2013
|
Sold | CRMLS_CA |
