
Los Angeles, California 90037
This Mixed-Use Value-Add Asset is listed at $775,000, representing a strategic acquisition in a high-demand urban corridor near Downtown Los Angeles. While the list price sits above the $716,035 Fair Market Value, the property’s diversified income streams—comprising a street-level commercial storefront and three residential units—offer substantial long-term potential. Currently holding a Condition Rating of 5, the 1911 build requires a full rehab to modernize aging systems and finishes. Featuring a shared courtyard and private patio, this is a high-utility opportunity for Buy-and-Hold Investors or Fix-and-Flip Investors seeking to capitalize on a robust rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 348 W Vernon Avenue Subject | $775,000* List Price | 0 | 0 | 2,940 | $241 | - |
A 342 W 56th Sold | $945,000 | 8 | 4 | 3,140 | $301 | 0.8 mi |
B 257 W 42nd Sold | $570,000 | 0 | 0 | 2,077 | $274 | 0.3 mi |
C 700 W 53rd Active | $798,500 List Price | 0 | 0 | 3,000 | $266 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1911, this property shows no signs of recent renovation. The kitchens and bathrooms are severely dated (30+ years), featuring old cabinetry and mismatched appliances. Interior images reveal cracked/uneven ceilings and aging finishes, indicating the property needs a full rehab to modernize systems and living spaces.
The mixed-use configuration featuring a street-level commercial storefront and three residential units provides multiple revenue sources, reducing overall vacancy risk for investors.
Situated on a high-demand corridor with strong street exposure and proximity to Downtown Los Angeles, the property offers excellent signage potential and easy access to public transit.
Zoned for mixed-use in a robust rental market, this asset presents significant opportunities for owner-users or investors to reposition the property for increased cash flow and value appreciation.
Originally constructed in 1911, the property may require substantial capital expenditure for modernizing structural elements, plumbing, and electrical systems to meet current standards.
The presence of only three individual meters for four total units (one commercial and three residential) creates operational complexity and challenges for accurate utility billing among tenants.
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 | 2,064.5 | 75% |
| Lot Size | 5,004 | 5,275 | 38% |
| Price | $775.0K | $725.0K | 56% |
| Price per sq ft | $264 | $333 | 13% |
| Built year | 1911 | 1924 | 13% |
| HOA | $0 | $0 | 50% |
| Days on market | 40 | 151 | 6% |
May 5, 2026
$775,000
Initial Listing