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Listed by Deborah Moussighi • Keller Williams Luxury
$988,888
Est. payment /mo
6,848 Sqft Lot
Active
602 W Vernon AVE Los Angeles, CA 90037
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR25126853
Year Built 1912
Lot Size 6,848 Sqft
Property Sub-Type Duplex
Source California Regional MLS
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
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Interior
Laundry Other
Exterior
Pool None
Building
Water Other
Others
Tax ID 5018033027
Special Listing Condition Not Applicable
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