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Exceptional investment opportunity in a prime Koreatown / Westlake location. The process to convert the home into a duplex plus back unit began in 2019. 1032 S Westlake Ave offers versatile multi-unit potential with strong income potential. The property is zoned LAR3 with Transient Lodging use and is located within an R3-1-HPOZ Historic Preservation Overlay Zone, presenting redevelopment and value-add possibilities. Located just blocks from the Westlake/MacArthur Park station, the surrounding neighborhood offers proximity to popular destinations including USC and Loyola Law School, Crypto Arena and Downtown LA, providing convenient access to major employment hubs throughout Los Angeles near Koreatown. There is ample parking for 7 cars with convenient alley access. With strong potential income, multi unit configuration possibilities, and redevelopment upside, this offering presents a compelling opportunity for investors seeking a centrally located asset, especially with the highly anticipated upcoming sports events of 2028.See floor plan reflecting the following: Upstairs: 3 Bedrooms / 2 Bathrooms Bottom: 2 Bedrooms / 1 Bathroom plus separate 1 bedroom with 1 bathroom Rear: 1 Bedroom / 2 Bathrooms. Per the Special Administrator, permits were initiated to add rooms and convert the home into multi units. Home was previously in the process of being remodeled.
Property Type(s):
Residential Income
| Last Updated | 5/4/2026 | Tract | Not Applicable |
|---|---|---|---|
| Year Built | 1902 | Community | C42 - Downtown L.A. |
| County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Oven, Gas Range, Gas Water Heater, Refrigerator, Water Heater |
| AREA | C42 - Downtown L.A. |
| BASEMENT | Yes |
| CONSTRUCTION | Vinyl Siding |
| FIREPLACE | Yes |
| HEAT | None |
| INTERIOR | Granite Counters, High Ceilings, Pantry, Walk-In Closet(s) |
| LOT | 7501 sq ft |
| LOT DIMENSIONS | 7502 |
| PARKING | Concrete |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Bungalow |
| SUBDIVISION | Not Applicable |
| UTILITIES | Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
Location
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Listed with Keller Williams Los Angeles
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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