1324 S Westlake AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRGD24237114
Originating Board California Regional MLS
Year Built 1903
Lot Size 8,669 Sqft
Property 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 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 pot
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Interior
Laundry Other
Exterior
Parking Features Uncovered Parking
Pool 31,None
View None
Building
Water District - Public
Others
Tax ID 5135004002
Special Listing Condition Not Applicable