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For sale
  • Price cut: $50K (6/25)
    $200,000

    240 Robinson St, Los Angeles, CA 90026

    8beds
    8baths
    7,896sqft
    : 
    Multi Family
    Built in 1926
    -- sqft lot
    $-- Zestimate®
    $25/sqft
    $-- HOA

    What's special

    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.
    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#: 25553977MLS Logo
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 240 Robinson St.

    Next available tour time:Tomorrow at 11am

    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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