Residential Income In Los Angeles

Character charm with systems upgrades! This historic Victorian/Transitional four-unit apartment is on a sought-after and convenient block near USC and popular restaurants, offering potential upside for a variety of purchasers. Great location! Walk or bike to the USC campus, Mount St. Mary’s Doheny campus and University Village (Trader Joe’s, Target, Sweetgreen restaurant); close to Downtown DASH and Metro Expo B Line Flower/23rd Street station; also located within the USC Security and Transportation zones. Built as a single family home in 1899, the residence was converted in 1913 by a family into four units one for the parents, and units for each son. The result is uniquely creative apartments, each with period details and vintage appeal. Units feature hardwood floors plus linoleum in kitchens, baths and porches; wood moldings and built-ins; claw foot tubs; and original (now decorative) brick fireplaces. The current owners restored the interiors, painted the exterior, replaced rear exterior stairs, revamped the flooring, and upgraded the electrical, plumbing (adding tankless water heaters), and central heat; reroofing was completed in 2012 (all improvements with permits). Tenants pay own gas and electric; coin-operated washer/dryer on premises. In addition, property has off-street parking in rear yard (room for four vehicles) plus there is a four-car garage presently utilized for storage but potentially it could be renovated for creative uses or converted into an ADU. All units are now occupied, but considering the unique charm and favorable location of the property, a buyer /first time investor may wish to plan for future owner-occupancy of one unit while collecting rent from the other three. This pride-of-ownership property is a Contributor to University Park HPOZ, listed individually in the California Register and also a Contributor to the St. James Park National Register Historic District.