Request More Info
Schedule a Showing
Share
Print
|
Discover an exceptional business opportunity in a prime Los Angeles location! Recently approved by the Historical Preservation Overlay Zone (HPOZ) and pending one final review with LADBS, the property’s renovation plans include converting it to a 12-bedroom, 5-bathroom SFR. The scope of work features upgrades to plumbing, electrical (where needed), and roofing, as well as complete renovations of all bathrooms, kitchen, flooring, and paint throughout, enhancing fit and finish in every room.This historical Craftsman property in the heart of Pico-Union District currently stands as an 11-room rooming house with 5 bathrooms and offers substantial rental income potential. Located minutes from USC, Downtown LA, Crypto Arena, and Koreatown, it's perfectly positioned for student housing, short-term renters, or urban professionals.With flexible LARD1.5 zoning, permitted uses of the home include Boarding House, Hotel, Transient Lodgings, and Hostel. However, Investors have the unique advantage of maximizing income potential by also tapping into Los Angeles city programs to fund housing for the homeless in all 12 bedrooms, creating income while positively impacting the community, or develop the property as housing for USC students and other nearby colleges and trade schools. Income potential from multiple sources.This property is ideal for investors seeking stable income and potential future development in one of LA’s most vibrant neighborhoods. Don’t miss out on owning a piece of LA history with high-yield potential!
Property Type(s):
Residential Income
| Last Updated | 11/19/2024 | Year Built | 1903 |
|---|---|---|---|
| Community | Park Hills Heights | County | Los Angeles |
Additional Details
| AREA | Park Hills Heights |
|---|---|
| GARAGE | Uncovered |
| LOT | 8669 sq ft |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| PARKING | Uncovered |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LARD1.5 |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with JohnHart Real Estate
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.
This IDX solution is (c) Diverse Solutions 2024.
Twitter
Facebook
Email