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Berkshire Hathaway HomeServices California Properties Berkshire Hathaway HomeServices California Properties
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602 W Vernon Avenue Los Angeles, CA 90037
$988,888 0 beds, 0 baths
0 sqft
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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

Listing Details

Property type: Duplex (Multi-Family)
Status: Active
MLS# SR25048083
List price is $988,888
HOA Fee is $0.00
Beds: 0
Baths: 0
Built in 1912
1 story
0.16 acres
Lot size: 0.1572
County: Los Angeles
Zoning: LAR3
Lot description: TwoToFiveUnitsAcre
MLS area: C36 - Metropolitan Southwest

Last Updated: 3/6/2025

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This listing belongs to the C36 - Metropolitan Southwest MLS area

Lat/Long: 34.003436, -118.284286.
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Listing Agent: Deborah Moussighi
Lic#: 01276603
Office Name: Tustin

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Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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Tustin Office
18302 Irvine Blvd, Suite 240
Tustin, CA 92780
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© 2025 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHHS and the BHHS symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information.
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