1467 W Vernon, Los Angeles, California 90062, Los Angeles, 90062 - 0 bed, 0 bath
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Los Angeles, California 90062
This High-Potential Investment Opportunity is a Residential Income Quadruplex listed at $905,000, positioned well above the $709,999 Fair Market Value by 27%. Despite the Poor Condition Rating, the property offers immediate value-add potential with a vacant 3-bedroom unit and an oversized 7,371 square foot lot suitable for ADU development or a lot split. Located 2.6 miles from USC, this asset provides strong rental demand. It is an ideal acquisition for Buy-and-Hold Investors or Experienced Developers focused on long-term repositioning.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1467 W Vernon Subject | $895,000* List Price | 0 | 0 | 3,372 | $207 | - |
A 1919 W 54th Sold | $920,000 | 8 | 4 | 3,691 | $249 | 0.9 mi |
B 1919 W 54th Sold | $920,000 | 0 | 0 | 3,691 | $249 | 0.9 mi |
C 1736 W 51st Sold | $810,000 | 0 | 0 | 2,475 | $327 | 0.7 mi |
D 1736 W 51st Sold | $810,000 | 4 | 4 | 2,475 | $327 | 0.7 mi |
E 1424 W 49th Street Sold | $853,000 | 0 | 0 | 2,682 | $318 | 0.4 mi |
F 3877 Denker Avenue Sold | $1,025,000 | 0 | 0 | 3,770 | $272 | 0.8 mi |
G 1565 W 51st Active | $1,025,000 List Price | 0 | 0 | 3,338 | $307 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1914 with no evidence of recent systemic updates. Interior photos show significant ceiling damage with exposed insulation, major water staining and moisture damage on walls, and dilapidated flooring. The kitchen area is in poor sanitary condition with heavy grease accumulation, and the exterior features boarded-up sections, indicating the property requires a full-scale rehabilitation.
The 3-bedroom unit is delivered vacant at close of escrow, allowing the buyer to immediately capture market-rate rents and improve the property's cap rate without tenant relocation hurdles.
The oversized 7,371 square foot lot and ample rear parking offer a rare opportunity to add ADUs or explore a lot split under the California Subdivision Map Act for increased density.
Located just 2.6 miles from USC and near major freeways and Metro stations, the property benefits from a strategic location that ensures consistent tenant demand and long-term appreciation.
Built in 1914, the century-old structure may require significant capital expenditure for seismic retrofitting, plumbing, or electrical upgrades to meet modern standards.
As a multi-unit property in Los Angeles, it is subject to the Rent Stabilization Ordinance (RSO), which limits annual rent increases and provides strict tenant protections for the occupied units.
A well-located 4-unit income property in the Vermont Square neighbourhood of South Los Angeles, offering 3,372 square feet of building area on a 7,369 square foot lot with ample rear parking, a rare and practical asset in this pocket of the city. The building features three 1-bedroom units and one 3-bedroom unit, with the 3-bedroom unit to be delivered vacant at close of escrow, providing an immediate opportunity to set market rents from day one. The oversized lot and ample rear parking present compelling long-term development potential, buyers should explore the feasibility of adding ADUs to the rear of the lot or pursuing a lot split under the California Subdivision Map Act, which may allow the parcel to be subdivided and developed with additional units, subject to city approval and zoning verification. Buyer to independently verify all development potential with the City of Los Angeles Planning Department. Situated just 2.6 miles from USC and close to the 10 and 110 freeways, the location offers strong tenant demand drivers. The Expo/Western Metro station is approximately 1.4 miles away, and Exposition Park, the Natural History Museum, and the California Science Center are all within five miles. A solid asset with in-place income, a vacant unit ready to reposition, and meaningful long-term upside on an oversized lot.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,372 | 2,614 | 78% |
| Lot Size | 7,371 | 6,122 | 65% |
| Price | $895.0K | $862.5K | 52% |
| Price per sq ft | $265 | $327 | 26% |
| Built year | 1914 | 1924 | 30% |
| HOA | $0 | $0 | 50% |
| Days on market | 31 | 208 | 4% |
Jun 5, 2026
$895,000
$905,000
-1% Price Drop
Initial Listing
May 16, 2026
$905,000
Initial Listing
Nov 30, 2021
$905,000
Public Record
Jun 3, 2002
$255,000
Public Record
Jul 23, 2001
$175,000
Public Record
Apr 28, 1998
$244,000
Public Record
Mar 31, 1998
$160,000
Public Record