Property Description

Development & Investment Opportunity: Fully RTI for 16 Units, Approved for Section 8 Presenting a prime investment and development opportunity with Fully RTI (Ready to Build Immediately) plans for 16 units, consisting of 13 one-bedroom units and 3 two-bedroom units. The property is approved for Section 8, offering significant future rental income potential upon completion. Key Features: RTI for 16 Units: The property is approved and ready for immediate construction, with plans for 13 one-bedroom units and 3 two-bedroom units, creating a strong future rental income stream. Current Income: The existing 6-bed, 3-bath duplex currently generates $5,460 per month in rental income from non-Section 8 tenants, providing reliable cash flow as you move forward with your development plans. Additional Room: An additional room in the duplex is available for rent, further increasing the property’s rental income potential. Ellis Act Eligible: The property is eligible for the Ellis Act, offering flexibility for future redevelopment or adjustments to tenant occupancy. This is a rare opportunity for investors to take advantage of a fully RTI property, currently generating rental income with non-Section 8 tenants while offering strong future potential through Section 8 approval. With immediate cash

Features
: Inside
Address Map
CA
Los Angeles
Los Angeles
90037
602 W Vernon Avenue
0
W119° 42' 56.7''
N34° 0' 13.2''
110 S Exit Vernon Ave. Continue on S Flower St. Ri
MLS Addon
Keller Williams Luxury
Deborah Moussighi
debbymoussighi@yahoo.com
CR13777603
CR373408874

Residential Income For Sale

602 W Vernon Avenue, Los Angeles, California 90037

3,800 Sqft
$988,888
Listing ID #CRSR25126853
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : CRSR25126853
Price : $988,888
Square Footage : 3,800 Sqft
Year Built : 1912
Lot Area : 6,848 Sqft
Status : Active
Property SubType : Duplex
Agent info
Michael Roberts
Contact Agent