Property listed by JohnHart Real Estate, Marlin Dginguerian 818-415-1516
$975,000
Discover an exceptional business opportunity in a prime Los Angeles location! Recently approved by the Historical Preservation Overlay Zone (HPOZ) and LADBS for the property’s renovation plans where the scope of work features upgrades to plumbing, electrical (where needed), and roofing, as well as complete renovations of all bathrooms, kitchen,… Read More 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 8-room 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. The home also an oversized formal living room and dining room with original historical architecture and high ceilings. The home has central heating throughout and includes plenty of off street parking and a perimeter security fence. With flexible LARD 1.5 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 8 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! Read Less
Listing Snapshot
Days Online
164
Last Updated
Property Type
MixedUse
Lot Size
0.2 Acres
Year Built
1903
MLS Number
GD25118136
Additional Details
Building
Built in 1903, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: steps
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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