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 flow and long-term growth possibilities, this property is a solid addition to any portfolio. Please inquire about current expenses on the duplex
For sale
Listing Provided by:
Deborah Moussighi DRE #01487871 818-585-2758,
Keller Williams Luxury
$988,888
602 W Vernon Ave, Los Angeles, CA 90037
14beds
--baths
3,800sqft
Est.:
Duplex
Built in 1912
-- sqft lot
$978,100 Zestimate®
$260/sqft
$-- HOA
What's special
- 58 days
- on Zillow |
- 85 |
- 4 |
Zillow last checked: 7 hours ago
Listing updated: June 12, 2025 at 06:48am
Listing Provided by:
Deborah Moussighi DRE #01487871 818-585-2758,
Keller Williams Luxury
Source: CRMLS,MLS#: SR25126853
Originating MLS: California Regional MLS

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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 14
Appliances
- Laundry: Inside
Features
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 3,800
- Total interior livable area: 3,800 sqft
Property
Features
- Entry location: Front
- Pool features: None
Lot
- Size: 6,848 Square Feet
- Features: 2-5 Units/Acre
Details
- Parcel number: 5018033027
- Zoning: LAR3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1912
Utilities & green energy
- Sewer: Public Sewer
- Water: See Remarks
Community & HOA
Community
- Features: Biking, Street Lights, Sidewalks
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $260/sqft
- Tax assessed value: $785,501
- Annual tax amount: $9,996
- Date on market: 6/5/2025
- Listing terms: Cash,Conventional,1031 Exchange,Owner Will Carry,Owner May Carry
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