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$ 1,000,000
Est. payment | /mo
6 Beds
4 Baths
7,502 Sqft Lot
$ 1,000,000
Est. payment | /mo
6 Beds
4 Baths
7,502 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID P1-26606
Bedrooms 6
Lot Size 7,502 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
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.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Between Olympic and W 11th. East of Hoover.
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5136011005
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition NOD Filed/Foreclosure Pnd, Probate Sbjct to Overbid
Listed by Esther Clauson, DRE#02031778 Keller Williams Los Angeles
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "