602 W Vernon Avenue
Los Angeles, CA 90037
- – beds
- – baths
- – sqft
- 6,848 sqft lot
- 1912 build
- – on site
Development & Investment Opportunity: Fully RTI for 16 Units, Approved for Section 8 Presenting a prime investment and development opportunity with Fully RTI (Ready to Build Immediately) plans for 16 units, consisting of 13 one-bedroom units and 3 two-bedroom units. The property is approved for Section 8, offering significant future rental income potential upon completion. Key Features: RTI for 16 Units: The property is approved and ready for immediate construction, with plans for 13 one-bedroom units and 3 two-bedroom units, creating a strong future rental income stream. Current Income: The existing 6-bed, 3-bath duplex currently generates $5,460 per month in rental income from non-Section 8 tenants, providing reliable cash flow as you move forward with your development plans. Additional Room: An additional room in the duplex is available for rent, further increasing the property's rental income potential. Ellis Act Eligible: The property is eligible for the Ellis Act, offering flexibility for future redevelopment or adjustments to tenant occupancy. This is a rare opportunity for investors to take advantage of a fully RTI property, currently generating rental income with non-Section 8 tenants while offering strong future potential through Section 8 approval. With immediate cash flow and long-term growth possibilities, this property is a solid addition to any portfolio. Please inquire about current expenses on the duplex
Last checked:
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Last updated Mar 6, 2025
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MLS# SR25048083 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1912
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:3800.00
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Building Area Units:Square Feet
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Total Number Of Units:2
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# of Buildings:2
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Stories Total:2
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Entry Level:2
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Common Walls:1 Common Wall
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# of Separate Gas Meters:2
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# of Separate Water Meters:2
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# of Separate Electric Meters:2
Interior
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Levels:One, Two
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Entry Location:front
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Laundry:Inside
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Laundry:1
Location
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Directions:110 S Exit Vernon Ave. Continue on S Flower St. Right on W Vernon
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Latitude:34.00343600
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Longitude:-118.28428600
The Property
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Property Type:Residential Income
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Subtype:Duplex
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Zoning:LAR3
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Lot Features:2-5 Units/Acre
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Lot Size Area:6848.0000
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Lot Size Acres:0.1572
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Lot Size SqFt:6848.00
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Lot Size Source:Assessor
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Property Attached:1
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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:7
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Tax Census Tract:2321.20
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Tax Tract:M B...
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Tax Lot:55
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5018033027
Utilities
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Sewer:Public Sewer
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Water Source:Other
The Community
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Features:Biking, Sidewalks, Street Lights
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
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3/5/25
Mar 5, 2025
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Listed / Active | CRMLS_CA | $988,888 | 31.0% (9.5% / YR) |
|
12/3/21
Dec 3, 2021
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CRMLS_CA | $755,000 | 25.8% | |
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11/12/21
Nov 12, 2021
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CRMLS_CA | $599,999 |
