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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
    : 
    Duplex
    Built in 1912
    -- sqft lot
    $978,100 Zestimate®
    $260/sqft
    $-- HOA

    What's special

    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
    58 days
    on Zillow
    |
    85
    |
    4
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    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#: SR25126853MLS LogoOriginating MLS: California Regional MLS
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    Next available tour time:Today at 11am

    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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