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
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 #:
SR25048083
Status:
Active
Baths:
0
Address:
602 W Vernon Avenue
Type:
Residential Income
Subtype:
Duplex
Neighborhood:
c36metropolitansouthwest
City:
Los Angeles
Listed Date:
Mar 3, 2025
State:
CA
ZIP:
90037
Lot Size:
6,848 sqft / 0.16 acres (approx)
Year Built:
1912
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Schools
Interior
Exterior
Community Features
Biking, Sidewalks, Street Lights
Garage Spaces
0.00
Lot Features
2-5 Units/ Acre
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Other
Financial
Association Fee
0.00
Map
Community
- Address602 W Vernon Avenue Los Angeles CA
- AreaC36 – Metropolitan Southwest
- CityLos Angeles
- CountyLos Angeles
- Zip Code90037
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Courtesy of Keller Williams Luxury. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.602 W Vernon Avenue
Los Angeles, CA
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