Est. cap rate

6.5%

Assumed rent, all units

$6,980/mo

Units

2

Price per unit

$324,500

Est. annual NOI

$41,880

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Duplex

Bedrooms

2

Building size

1,331 sqft

Lot size

6,250 sqft

Year built

1897

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

18

MLS #

245452531

About this property

Located in the highly sought-after Alvarado Terrace Historic District of Pico-Union, this early-1900s Craftsman presents an exceptional restoration and investment opportunity. Offering approximately 1,331 square feet of living space on a 6,250-square-foot LARD1.5-zoned lot, the property features three bedrooms, two bathrooms, and a large basement with potential for additional living space, a guest suite, or an ADU—subject to city approval, zoning requirements, and historic-district guidelines. The tenant-occupied residence is presently configured with two independent living areas. The front section includes two bedrooms and one bathroom, while the rear section offers one bedroom and one bathroom. A long central corridor, original character, and large double doors highlight the home’s unique Craftsman-era design. Surrounded by distinctive historic homes and multimillion-dollar properties, this Pico-Union investment property provides convenient access to public transportation, Downtown Los Angeles, Crypto.com Arena, Koreatown, Westlake, Larchmont Village, and Hollywood. With renovation and restoration, the property may offer significant upside potential. The seller suggests a possible after-repair value of approximately $1.2 million; buyers should independently verify projected value, permitted use, zoning, square footage, unit configuration, ADU feasibility, and development potential. An excellent opportunity for an investor, developer, contractor, or buyer searching for a historic Craftsman home to restore in Central Los Angeles.

Location

1664 W 12th

Los Angeles, Los Angeles, CA, 90015