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WLA Investment Opportunity ---- Investors looking for upside, this property offers value-add potential through rent increases, ADU conversion, and possible redevelopment - Updated Electrical and Excess Land Located on a spacious 9,268 SF lot, it is positioned near the new UCLA Research Park and the former Westside Pavilion, prime area undergoing revitalization. The property consists of four units: three one-bedroom, one-bath units, and one two-bedroom, one-bath unit, with two of the units exempt from the Los Angeles Rent Stabilization Ordinance (RSO), allowing for increased rental income potential. One standout feature is the oversized lot, which provides private outdoor space. The property includes four private garages and six additional uncovered parking spaces, offering a unique opportunity for conversion into an Accessory Dwelling Unit (ADU).Though the zoning has been down-zoned to R1, this could appeal to an experienced builder looking to redevelop the lot into a large single-family home with an ADU. The property is located in a desirable neighborhood with lush landscaping, a charming enclosed front patio, and California palm trees. It is conveniently close to the Expo Westwood/Rancho Park station, which provides easy access to downtown LA and Santa Monica. Additionally, the property is adjacent to a cross-city bike path, ideal for cycling enthusiasts. Residents will appreciate the highly rated Westwood Charter Elementary School and other nearby schools, making this a strong choice for family tenants. Overall, this fourplex offers significant upside potential for value-add investors in a high-demand Westside LA location.
Property Type(s):
Residential Income
| Last Updated | 11/6/2024 | Year Built | 1939 |
|---|---|---|---|
| Community | West Los Angeles | Garage Spaces | 4.0 |
| County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | West Los Angeles |
| GARAGE | None, Yes |
| HEAT | None |
| LOT | 9268 sq ft |
| PARKING | None |
| STORIES | 1 |
| ZONING | LAR1 |
Location
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The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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