2511 W. 5th St presents a compelling value-add duplex opportunity in the highly sought-after Westlake/Koreatown corridor of Los Angeles. Built in 1951, this income-producing multifamily property offers approximately 1,782 square feet across two 1-bedroom, 1-bath units, making it an ideal owner-user or investment property with strong rental upside. Each unit features functional layouts, laundry and dedicated garage parking, while the upper unit enjoys a peek-a-boo view of the Hollywood Sign from a private deck. The property also includes an original non-conforming studio with kitchenette and 3/4 bath. Presenting a unique opportunity to expand the building's square footage footprint. For investors seeking ADU expansion potential, the property comes with City-approved plans to convert the existing studio into a fully permitted Accessory Dwelling Unit, offering a clear path to increased cash flow and improved property value. The two one car garages offer the opportunity for a second ADU. Positioned on a quiet cul-de-sac in a rapidly evolving pocket of Westlake, the property benefits from close proximity to Koreatown, Downtown Los Angeles, major employment centers, dining, and transit options. The surrounding area continues to see significant redevelopment and new multifamily construction, supporting long-term appreciation and strong tenant demand. Online rental projections indicate a healthy upside on pro-forma returns for investors. Whether you're looking for a turnkey duplex with upside, an owner-user opportunity, or a strategic value-add investment with ADU potential, 2511 W. 5th St offers a rare opportunity in one of Los Angeles’ most active rental markets.