602 W Vernon Avenue, Los Angeles, CA 90037 - Berkshire Hathaway HomeServices California Properties
602 W Vernon Avenue Los Angeles, CA 90037
$988,888 0 beds, 0 baths
0 sqft

Agent Remarks

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

Listing Details

Property type: Duplex (Multi-Family)
Status: Active
MLS# SR25048083
List price is $988,888
HOA Fee is $0.00
Beds: 0
Baths: 0
Built in 1912
1 story
0.16 acres
Lot size: 0.1572
County: Los Angeles
Zoning: LAR3
Lot description: TwoToFiveUnitsAcre
MLS area: C36 - Metropolitan Southwest

Last Updated: 3/6/2025

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This listing belongs to the C36 - Metropolitan Southwest MLS area

Lat/Long: 34.003436, -118.284286.
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Listing Agent: Deborah Moussighi
Lic#: 01234982
Office Name: Mission Viejo

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