1523 E Vernon Avenue, Los Angeles, California 90011, Los Angeles, 90011 - 4 bed, 4 bath
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Los Angeles, California 90011
This Multi-Unit Conversion Asset represents a High-Potential Investment Opportunity with a List Price of $749,000. While currently priced above the $669,167 Fair Market Value, the property offers significant upside through restoring its original four-unit layout to maximize rental income. Featuring a Condition Rating of 5 with visible deferred maintenance, the asset is strategically located near USC, Downtown LA, and Vernon City Elementary. Delivered vacant, it provides a seamless path for immediate renovation and repositioning. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1523 E Vernon Avenue Subject | $749,000* List Price | 4 | 4 | 2,314 | $289 | - |
A 1523 E Vernon Avenue Active | $749,000 List Price | 4 | 4 | 2,314 | $324 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1911 with no evidence of major renovations in over 30 years. The interior features dated wood paneling, old ceramic tile, and worn carpeting. Visible wall cracks in the dining area and peeling exterior stucco indicate deferred maintenance. Marketed as an investor 'value opportunity' for conversion, suggesting the need for a full rehab of kitchens, baths, and likely outdated systems.
Originally configured as four separate 2-bedroom units, this property offers a significant value-add opportunity for investors to restore its multi-unit layout and maximize rental income.
The property is ideally situated near major Los Angeles landmarks including USC, the LA Memorial Coliseum, and Downtown LA, ensuring high demand from a diverse tenant pool.
Being delivered vacant provides a seamless transition for the new owner to immediately begin renovations or implement a new leasing strategy at current market rates.
Built in 1911, the property likely requires substantial updates to its core systems and structural elements to meet modern building codes and tenant expectations.
The discrepancy between tax records and the current physical bedroom count suggests potential unpermitted work, which may complicate financing and the legal conversion process.
Tremendous value opportunity with significant upside for a savvy investor or owner-user. Originally configured as four separate 2-bedroom units, this property can be easily converted back to its multi-unit layout, creating four strong income-producing rentals or a flexible mixed-use living/investment setup. Centrally located near USC, the LA Memorial Coliseum, the LA Convention Center, and Downtown LA, this is a rare chance to own a versatile property brimming with potential.*Tax records indicate the home as only a 4 bed but it has several more bedrooms currently* Property will be delivered vacant.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 81% |
| Baths | 4.0 | 1.5 | 97% |
| Square foot | 2,314 | 1,172 | 97% |
| Lot Size | 5,204 | 4,568.5 | 66% |
| Price | $749.0K | $553.0K | 94% |
| Price per sq ft | $324 | $484 | 13% |
| Built year | 1911 | 1910 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 7 | 212 | 3% |
Apr 24, 2026
$749,000
Initial Listing