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1324 S Westlake Avenue, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath

1324 S Westlake Avenue, Los Angeles, California 90006 home-pic-0
ACTIVE$975,000$4,232/sqft
1324 S Westlake Avenue, Los Angeles, California 90006
0Bed
0Bath
4,232Sqft
8,669Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Income Potential & Flexible Zoning: The LARD 1.5 zoning permits diverse high-yield uses including Boarding House, Hotel, Transient Lodgings, and Hostel, along with eligibility for city housing programs, maximizing revenue streams.
Top Cons:
Significant Renovation Capital Required: Despite approved plans, the property requires extensive upgrades across multiple systems and finishes, necessitating substantial capital investment and project oversight from the buyer.

Compared to the nearby listings

Price:$975.0K vs avg $1.03M ($-52,500)50%
Size:4,232 sqft vs avg 3,898 sqft50%
Price/sqft:$230 vs avg $26750%

More Insights

Built in 1903 (123 years old).
Condition: Built in 1903, the property explicitly requires 'complete renovations of all bathrooms, kitchen, flooring, and paint throughout,' as well as 'upgrades to plumbing, electrical (where needed), and roofing.' This indicates substantial repairs and rehabilitation are necessary across major systems and finishes, aligning with the 'Poor' condition criteria. The exterior images also show signs of deferred maintenance.
Year Built
1903
Close
-
List price
$975K
Original List price
$975K
Price/Sqft
$230
HOA
-
Days on market
-
Sold On
-
MLS number
GD26008189
Home ConditionPoor
Features
Good View:
View-

About this home

Discover an exceptional business opportunity in a prime Los Angeles location! Recently approved by the Historical Preservation Overlay Zone (HPOZ) and LADBS for the property's renovation plans where 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 8-room 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. The home also an oversized formal living room and dining room with original historical architecture and high ceilings. The home has central heating throughout and includes plenty of off street parking and a perimeter security fence. With flexible LARD 1.5 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 8 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!

M
Marlin Dginguerian
Listing Agent

Nearby schools

3/10
Magnolia Avenue Elementary School
Public,•K-6•0.4mi
3/10
Leo Politi Elementary School
Public,•K-5•0.5mi
2/10
Tenth Street Elementary School
Public,•K-5•0.5mi
4/10
Norwood Street Elementary School
Public,•K-5•0.7mi
8/10
Hoover Street Elementary School
Public,•K-5•0.8mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.8mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•1.1mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.2mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.3mi
3/10
Los Angeles Elementary School
Public,•K-5•1.4mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•1.4mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.8mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•2.2mi
3/10
Berendo Middle School
Public,•6-8•0.7mi
3/10
John H. Liechty Middle School
Public,•6-8•0.9mi
4/10
John Adams Middle School
Public,•6-8•1.7mi
5/10
Pio Pico Middle School
Public,•6-8•2.1mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.6mi
4/10
West Adams Preparatory High School
Public,•9-12•0.6mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.2mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.2mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.2mi
3/10
Belmont Senior High School
Public,•9-12•1.5mi
5/10
Santee Education Complex
Public,•9-12•1.6mi
5/10
Foshay Learning Center
Public,•K-12•2.3mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.1mi

Price History

Date
Event
Price
06/24/24
Sold
$825,000
01/12/18
Sold
$965,000
09/14/16
Sold
$760,000
10/16/14
Sold
$620,000
06/27/13
Sold
$510,000
Condition Rating
Poor
Built in 1903, the property explicitly requires 'complete renovations of all bathrooms, kitchen, flooring, and paint throughout,' as well as 'upgrades to plumbing, electrical (where needed), and roofing.' This indicates substantial repairs and rehabilitation are necessary across major systems and finishes, aligning with the 'Poor' condition criteria. The exterior images also show signs of deferred maintenance.
Pros & Cons

Pros

Exceptional Income Potential & Flexible Zoning: The LARD 1.5 zoning permits diverse high-yield uses including Boarding House, Hotel, Transient Lodgings, and Hostel, along with eligibility for city housing programs, maximizing revenue streams.
Strategic High-Demand Location: Located minutes from USC, Downtown LA, Crypto Arena, and Koreatown, ensuring strong demand from students, short-term renters, and urban professionals.
Pre-Approved Renovation Plans: HPOZ and LADBS approval for extensive upgrades (plumbing, electrical, roofing, full interior renovations) significantly de-risks and streamlines the modernization process.
Spacious & Feature-Rich Property: A substantial 4232 sqft historical Craftsman with 8 rooms, 5 baths, high ceilings, central heating, ample off-street parking, and a security fence, offering significant functional value.
Historical Charm & Architectural Value: Original Craftsman architecture and high ceilings provide unique character, enhancing market appeal and potential for premium positioning post-renovation.

Cons

Significant Renovation Capital Required: Despite approved plans, the property requires extensive upgrades across multiple systems and finishes, necessitating substantial capital investment and project oversight from the buyer.
HPOZ Design & Future Modification Constraints: Being within an HPOZ may impose strict guidelines and approval processes for any future exterior modifications, potentially limiting design freedom and adding bureaucratic hurdles.
High Operational & Management Complexity: Managing an 8-room property for diverse uses like boarding, transient lodging, or city housing programs demands considerable operational expertise and regulatory compliance.
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