1467 W Vernon, Los Angeles, CA 90062

Property Description

A well-located 4-unit income property in the Vermont Square neighbourhood of South Los Angeles, offering 3,372 square feet of building area on a 7,369 square foot lot with ample rear parking, a rare and practical asset in this pocket of the city. The building features three 1-bedroom units and one 3-bedroom unit, with the 3-bedroom unit to be delivered vacant at close of escrow, providing an immediate opportunity to set market rents from day one. The oversized lot and ample rear parking present compelling long-term development potential, buyers should explore the feasibility of adding ADUs to the rear of the lot or pursuing a lot split under the California Subdivision Map Act, which may allow the parcel to be subdivided and developed with additional units, subject to city approval and zoning verification. Buyer to independently verify all development potential with the City of Los Angeles Planning Department. Situated just 2.6 miles from USC and close to the 10 and 110 freeways, the location offers strong tenant demand drivers. The Expo/Western Metro station is approximately 1.4 miles away, and Exposition Park, the Natural History Museum, and the California Science Center are all within five miles. A solid asset with in-place income, a vacant unit ready to reposition, and meaningful long-term upside on an oversized lot.