CA > Los Angeles
Los Angeles, CA 90037,602 W Vernon AVE
Los Angeles, CA 90037,602 W Vernon AVE
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James Olvera

James Olvera

The Warburton Team

+1(909) 760-9091
$ 988,888
Est. payment | /mo

6,847 Sqft Lot

Save
$ 988,888
Est. payment | /mo
Save

6,847 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR25126853

HOA Y/N No

Year Built 1912

Lot Size 6,847 Sqft

Property Sub-Type Duplex

Property Description

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

Location

State CA

County Los Angeles

Area C36 - Metropolitan Southwest

Zoning LAR3

Interior

Fireplace No

Laundry Inside

Exterior

Pool None

Community Features Biking, Street Lights, Sidewalks

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 1

Sewer Public Sewer

Water See Remarks

New Construction No

Others

Senior Community No

Tax ID 5018033027

Acceptable Financing Cash, Conventional, 1031 Exchange, Owner Will Carry, Owner May Carry

Listing Terms Cash, Conventional, 1031 Exchange, Owner Will Carry, Owner May Carry

Special Listing Condition Standard

CRMLS – RECore
Listed by Deborah Moussighi Keller Williams Luxury 818-585-2758

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