This is a rare, high-upside investment opportunity to acquire a joint tenancy interest in an 8-unit apartment building at 240 Robinson Street in Historic Filipinotown, just two blocks south of Silver Lake and minutes from Echo Park and Downtown Los Angeles. For a $250,000 all-cash contribution, you'll receive recorded ownership on title and a 50/50 share of all net profits upon resale. The building is in the final phase of a Tenancy-in-Common (TIC) conversion (TIC is pending), and the strategy is simple: bring the loan current, complete the last city-required repairs, finalize the legal TIC structure, vacate remaining tenants, and sell off individual units. All heavy lifting legal, structural, and physicalh as already been completed or is underway. The building has seen over $500,000 in renovations, with just $30,000 remaining for final permit-required items. There are only 8 open LAHD violations (down from over 500! in 2 years), and over $70,000 in REAP escrowed rents will be released by the City within 60 days of final clearance. The property is in default, and the $250,000 raise will bring the loan current and cover all remaining legal, repair, and tenant settlement costs. Notably, there's still approximately $40,000 in unused construction loan draws available. The current construction loan carries a nearly 12% interest-only rate, and our plan is to refinance and restructure the debt immediately after curing default significantly improving cash flow and position for exit. Once the building is fully vacant and TIC-approved, individual units are projected to resell for $400,000 to $450,000 each, with condo comps in the area exceeding $600,000. Estimated ARV is $3.2M to $3.6M, and net equity is approximately $1M, offering a projected return of $500,000+ to the investor within 6 to 12 months. With over 20 years of experience as a Los Angeles Realtor and 23 years as an investor managing properties across LA since the 1990s, I've personally overseen this building for more than a decade. I've worked through legal complexities, capital upgrades, tenant negotiations, and code compliance positioning the asset for a clean, lucrative exit. Showings of any or all units can be scheduled using ShowingBooker app, our official coordination platform that provides legal notice to tenants and ensures smooth, documented access. This is a well-timed, strategic investment for a buyer or investor looking to step in at the inflection point and capture significant upside in a dynamic and appreciating LA submarket. Might be a perfect opportunity for a smaller investor or someone in a 1031 exchange.
For sale
Price cut: $50K (6/25)
$200,000
240 Robinson St, Los Angeles, CA 90026
8beds
8baths
7,896sqft
Est.:
Multi Family
Built in 1926
-- sqft lot
$-- Zestimate®
$25/sqft
$-- HOA
What's special
- 46 days
- on Zillow |
- 22,171 |
- 981 |
Zillow last checked: 7 hours ago
Listing updated: June 25, 2025 at 05:15pm
Listed by:
David Bramante DRE # 01511588 310-906-5459,
LOOM REALTY 310-357-5810
Source: CLAW,MLS#: 25553977

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 8
Heating
- None
Cooling
- None
Interior area
- Total structure area: 7,896
- Total interior livable area: 7,896 sqft
Property
Parking
- Parking features: None
Features
- Levels: Two
Lot
- Size: 6,372.83 Square Feet
Details
- Additional structures: None
- Parcel number: 5156006005
- Zoning: LARD2
- Special conditions: Standard
- Other equipment: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Year built: 1926
Community & HOA
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $25/sqft
- Tax assessed value: $2,040,000
- Date on market: 6/18/2025
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