1324 South Westlake Avenue

Los Angeles, CA 90006

$1,288,000
Price
12
Beds
5
Baths
4,232 Sq. Ft.
$304 / Sq. Ft.
4,232
Sq. Ft.
$304
per Sq. Ft.

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...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!
  1. Listed by Rafael Gevorkian • DRE #01783621 • Brokerage DRE #01873088 • JohnHart Real Estate • 818-825-1817

Property Details for 1324 South Westlake Avenue

View
None
Parking Spaces Total
0
Private Pool
No
Total Units
1.0
Lot Size Source
Assessor
Property Attached YN
false
Common Walls
No Common Walls
New Construction
No
LISTING UPDATED: 11/25/2024 09:11 AM

Property Details for 1324 South Westlake Avenue

StatusActive
MLS #GD24237114
Days on Market31
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income / Combo - Res and Com
Year Built1903
Lot Size0.20 AC / 8,669 SF
CountyLos Angeles County

Building Information for 1324 South Westlake Avenue

Stories2Residences-Year Built1903Lot Size0.20 AC / 8,669 SF

Property Information for 1324 South Westlake Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $0
  • Net Operating Income: $0
Expense Details
  • Operating Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: 224310
  • Tax Census Tract: 2243.10
  • Tax Lot: 11
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: steps
  • Pool Features: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Land Lease: No
  • Levels: Two
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Features: Uncovered
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 12
  • Unit Type Baths Total: 5
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 18200
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 1324 South Westlake Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1324 South Westlake Avenue

Taxable ValueLand$1,003,965Additions$86,997Total$1,090,962
Tax Record2024$13,767 ($1,147 / month)
Home Facts
Total Finished SqFt4,232 SqFtAbove Grade Finished SqFt4,232 SqFtLot Size8,667 SqFtStyleMulti-Family Res (5+ Units)Year Built1903ZoningLARD1.5CountyLOS ANGELESAPN5135-004-002

Schools near 1324 South Westlake Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 4
Rating
School
Distance
Magnolia Avenue Elementary School
PublicK to 5

Berendo Middle School
Public6 to 8

West Adams Preparatory High School
Public9 to 12

Equitas Academy Charter School
CharterK to 4

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1324 South Westlake Avenue is a mixed use property for sale in Los Angeles, CA 90006. This property was listed for sale on November 19, 2024 by JohnHart Real Estate, it's currently listed at $1,288,000. It has been on the market for a total of 31 days and was last sold on May 17, 2024. This listing's school district is Los Angeles Unified School District. Nearby schools include Magnolia Avenue Elementary School, Berendo Middle School and West Adams Preparatory High School. 1324 South Westlake Avenue is a 12-bed, 5-bath, 4,232 sqft mixed use property built in 1903.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of JohnHart Real Estate, Rafael Gevorkian, DRE #01783621

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.