Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

3

Building size

3,736 sqft

Lot size

7,502 sqft

Year built

1902

Stories

2

Garage spaces

0

Style

Bungalow

Heating

None

Cooling

Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

105

MLS #

241716046

About this property

Exceptional investment opportunity in a prime Koreatown / Westlake location. The process to convert the home into a duplex plus back unit began in 2019. 1032 S Westlake Ave offers versatile multi-unit potential with strong income potential. The property is zoned LAR3 with Transient Lodging use and is located within an R3-1-HPOZ Historic Preservation Overlay Zone, presenting redevelopment and value-add possibilities. Located just blocks from the Westlake/MacArthur Park station, the surrounding neighborhood offers proximity to popular destinations including USC and Loyola Law School, Crypto Arena and Downtown LA, providing convenient access to major employment hubs throughout Los Angeles near Koreatown. There is ample parking for 7 cars with convenient alley access. With strong potential income, multi unit configuration possibilities, and redevelopment upside, this offering presents a compelling opportunity for investors seeking a centrally located asset, especially with the highly anticipated upcoming sports events of 2028.See floor plan reflecting the following: Upstairs: 3 Bedrooms / 2 Bathrooms Bottom: 2 Bedrooms / 1 Bathroom plus separate 1 bedroom with 1 bathroom Rear: 1 Bedroom / 2 Bathrooms. Per the Special Administrator, permits were initiated to add rooms and convert the home into multi units. Home was previously in the process of being remodeled.

Location

1032 S Westlake Avenue

Los Angeles, Los Angeles, CA, 90006