
Los Angeles, California 90037
This Value-Add Mixed-Use Asset represents a strategic acquisition with a List Price of $821,000, aligning accurately with its $821,000 Fair Market Value. Featuring a street-level Commercial Storefront and Three Residential Units, the property provides diverse income streams in a high-demand Los Angeles corridor. Given its Condition Rating of 5, the 1911-built structure requires significant capital expenditures for system upgrades and modernization to meet current market standards. With Mixed-Use Zoning and a private Patio, the property offers substantial upside through repositioning. This is an ideal opportunity for Buy-and-Hold Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 348 W Vernon Avenue Subject | $821,000* List Price | 0 | 0 | 2,940 | $279 | - |
A 250 W 49th Street 2 Sold | $593,000 | 0 | 0 | 2,052 | $289 | 0.4 mi |
B 725 727 W 50th Street Sold | $625,000 | 0 | 0 | 1,916 | $326 | 0.6 mi |
C 873 W Vernon Active Under Contract | $649,000 List Price | 0 | 0 | 2,952 | $220 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1911, this property shows significant age and a lack of recent, extensive renovations. The residential kitchens feature very dated cabinets, old appliances, and worn flooring. Bathrooms are basic, with older fixtures and finishes, some appearing to have minor updates 20-30 years ago but still far from modern. The commercial space is extremely basic and worn. The property requires substantial rehabilitation, including likely upgrades to major systems (plumbing, electrical, HVAC) as indicated by the property analysis, to meet current standards and tenant expectations. It is functional but very uncomfortable and outdated in its current state, aligning with the 'poor' condition criteria.
The property offers multiple revenue sources with a street-level commercial storefront and three separate residential units, providing stability and potential for varied tenant bases.
Situated in a high-demand urban corridor of Los Angeles with excellent proximity to major thoroughfares, public transportation, and freeways, ensuring strong rental demand and accessibility.
The commercial unit benefits from strong street exposure on Vernon Avenue, a wide storefront, security gate, and a flexible interior layout suitable for various business types.
Built in 1911, the property likely requires significant capital investment for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization to meet current standards and tenant expectations.
The listing explicitly states 'Buyer to verify all zoning, unit count, and permitted uses,' indicating a higher burden of due diligence and potential complexities or risks related to the property's legal compliance or future development.
While units are described as functional, the lack of detail regarding recent renovations or modern amenities suggests the residential and commercial spaces may be dated, potentially impacting rental rates without further investment.
Prime mixed-use investment opportunity located at 348 W Vernon Ave, Los Angeles. This versatile property features a street-level commercial storefront currently used as a retail space, plus three residential units, offering multiple income streams in a high-demand urban corridor. The commercial unit benefits from strong street exposure along Vernon Avenue, with a wide storefront window, security gate, and flexible interior layout ideal for retail, office, or service-oriented uses. Excellent visibility and signage potential enhance business appeal. The residential component consists of three separate units, including a combination of single-story and upper-level unit with private entrances. Units feature functional floor plans, natural light, and practical layouts suitable for long-term tenants. A shared courtyard and on-site access provide convenience and separation from the commercial space. The property sits on a fully improved lot with alley access, 3 individual meters, and a layout conducive to efficient management. Aerial views highlight proximity to major thoroughfares, public transportation, and nearby freeways, offering easy access to Downtown Los Angeles and surrounding neighborhoods. Located in a strong rental market with consistent demand for both residential and commercial space, this asset presents an excellent opportunity for investors, owner-users, or those seeking to reposition a mixed-use property for increased cash flow. Zoned for mixed use. Buyer to verify all zoning, unit count, and permitted uses with the City of Los Angeles.
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 | 2,940 | 2,012 | 74% |
| Lot Size | 5,004 | 5,377 | 32% |
| Price | $821.0K | $855.0K | 47% |
| Price per sq ft | $279 | $387 | 11% |
| Built year | 1911 | 1923 | 26% |
| HOA | $0 | $0 | 50% |
| Days on market | 121 | 242 | 26% |
Dec 22, 2025
$821,000
Initial Listing