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:
c36
Listed Date:
Sep 29, 2025
Total Sq Ft:
3,800
Lot Size:
6,848 sqft / 0.16 acres (approx)
Year Built:
1912
See this Listing
Schools
Interior
Laundry Features
IN
Exterior
Community Features
SDW, SL, BIKI
Financial
Map
Community
- Address602 W Vernon AV Lot 55 Los Angeles CA
- CityLos Angeles
- CountyLos Angeles
- Zip Code90037
Subdivisions in Los Angeles
- Beachwood Canyon Estates
- Crestmont lot
- Harvard Heights
- Jefferson Park
- Las Collinas Heights
- Legendary Place
- Little Tokyo Lofts
- Lot Number 107, 108 DONOHUE TRACT
- Not Applicable-105
- Not in Development
- Picfair Village
- Sol Hollywood
- Studio 10
- The Diplomat
- The Heights at Ponte Vista
- The Hollywood
- West Adams
- West Hollywood West
Market Summary
Current real estate data for Single Family in Los Angeles as of Dec 01, 2025
2,124
Single Family Listed
70
Avg DOM
981
Avg $ / SqFt
$1,745,560
Avg List Price
Property Summary
- 602 W Vernon AV Lot 55 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 $981. The average listing price for Single Family in Los Angeles is $1,745,560.
Similar Listings Nearby
602 W Vernon AV Lot 55
Los Angeles, CA


