1324 South Westlake Avenue
$1,288,000
12
5
4,232
4,232
$304
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!
- 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 Total0
Private PoolNo
Total Units1.0
Lot Size SourceAssessor
Property Attached YNfalse
Common WallsNo Common Walls
New ConstructionNo
LISTING UPDATED: 11/19/2024 08:41 AM
Property Details for 1324 South Westlake Avenue
Status | Active |
---|---|
MLS # | GD24237114 |
Days on Market | 1 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income / Combo - Res and Com |
Year Built | 1903 |
Lot Size | 0.20 AC / 8,669 SF |
County | Los 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
Property History for 1324 South Westlake Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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.
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