
Los Angeles, California 90004
This Versatile Commercial-Residential Hybrid Asset is listed at $2,699,999, positioned near its $2,613,859 Fair Market Value. Boasting a Good Condition Rating following a 2017 renovation, the property features a rare hotel permit, solar panel system, and 9 gated parking spaces on a prominent corner in Virgil Village/Koreatown. Located within the Los Angeles Unified School District, this 12-bedroom high-capacity facility offers immediate income potential as an adult care center or hospitality conversion. This strategic acquisition is ideal for Institutional Investors or Hospitality Operators.
Property is move-in ready.
The property was renovated in 2017 (7 years ago), placing it within the 5-15 year renovation window for a 'Good' rating. It features updated systems including central air, a new electrical box, and solar panels. The interior shows well-maintained hardwood floors and a functional, modern kitchen, making it move-in ready.
The property includes a rare hotel permit and is currently an adult care facility, offering investors multiple high-income use cases or the option to reposition the asset for hospitality or residential expansion.
Extensively renovated in 2017, the building features updated electrical systems, central air conditioning, and a newer solar panel system, significantly lowering immediate CAPEX and operational utility costs.
Situated on a prominent corner in the high-demand Virgil Village/Koreatown area, the property offers high visibility and includes nine gated parking spaces, a rare and valuable asset in this dense urban neighborhood.
There is a significant mismatch between the official data (8 beds/5 baths) and the marketing description (12 beds/13 baths), which may indicate unpermitted additions or complex zoning issues that could complicate financing.
As a century-old structure currently optimized for institutional use, the property may face appraisal challenges and requires a niche buyer capable of managing a commercial-residential hybrid asset.
Exceptional Virgil Village / Koreatown Investment Opportunity Business and Real estate (hotel permit) Don’t miss this rare chance to own a prime income-producing property on the prominent corner of 3rd Street and Virgil, in one of Los Angeles’ most sought-after and high-demand neighborhoods. Featuring 12 bedrooms, 13 bathrooms, and 9 gated parking spaces, this well-maintained property offers outstanding flexibility, strong upside potential, and exceptional long-term value. Originally renovated in 2017, the property includes central air, a newer solar panel system, a new electrical box, and an existing hotel permit. Currently operated as a Adult care facility 18 yrs in business with yelp reviews, it provides a unique opportunity for investors, operators, or buyers looking for a versatile asset with multiple potential uses. The business and property are being offered at an exceptional price, creating an attractive value proposition in a premier location. The property may also be delivered vacant, allowing even more options for repositioning, expansion, or future use. In excellent condition and already generating strong revenue, this is a rare opportunity to acquire a property with size, location, income potential, and lasting upside. 1031 exchange buyers are welcome.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 8.0 | 4.0 | 98% |
| Baths | 5.0 | 4.0 | 73% |
| Square foot | 4,416 | 2,381 | 83% |
| Lot Size | 9,754 | 7,006 | 80% |
| Price | $2.70M | $1.80M | 73% |
| Price per sq ft | $611 | $845 | 27% |
| Built year | 1919 | 1921 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 182 | 2% |
Apr 20, 2026
$2,699,999
Initial Listing
May 2, 2017
$1,830,000
Public Record
Mar 27, 2007
$830,000
Public Record
Aug 31, 1993
$400,000
Public Record