602 W Vernon AV
Los Angeles, CA, 90037
$988,888
Beds
0 Baths
0 SqFt
0.16 Acres
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MLS #SR25126853 image #0
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 flow and long-term growth possibilities, this property is a solid addition to any portfolio. Please inquire about current expenses on the duplex

Property Details

Price:
$988,888
MLS #:
SR25126853
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
Duplex
Neighborhood:
c36metropolitansouthwest
Listed Date:
Jun 5, 2025
Total Sq Ft:
3,800
Lot Size:
6,848 sqft / 0.16 acres (approx)
Year Built:
1912
C36 – Metropolitan SouthwestC36metropolitansouthwest

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SDW, SL, BIKI

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Market Summary

Current real estate data for Single Family in Los Angeles as of Mar 16, 2026
7,204
Single Family Listed
89
Avg DOM
510
Avg $ / SqFt
$1,492,477
Avg List Price

Property Summary

    602 W Vernon AV Los Angeles CA is a Single Family for sale in Los Angeles, CA, 90037. It is listed for $988,888 and features 0 beds, 0 baths, and has approximately 0 square feet of living space, and was originally constructed in 1912. The average price per square foot for Single Family listings in Los Angeles is $510. The average listing price for Single Family in Los Angeles is $1,492,477.

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