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1324 S Westlake Avenue, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath

1324 S Westlake Avenue, Los Angeles, California 90006 home-pic-0
ACTIVE$975,000
1324 S Westlake Avenue, Los Angeles, California 90006
0Bed
0Bath
4,232Sqft
8,669Lot
Year Built
1903
Close
-
List price
$975K
Original List price
$1M
Price/Sqft
$230
HOA
-
Days on market
-
Sold On
-
MLS number
GD25118136
Home ConditionPoor
Features
Good View: None
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $975.0K(50th), sqft - 4232(50th), beds - undefined(50th), baths - undefined(50th).

Discover an exceptional business opportunity in a prime Los Angeles location! Recently approved by the Historical Preservation Overlay Zone (HPOZ) and LADBS for the property’s renovation plans where the scope of work features upgrades to plumbing, electrical (where needed), and roofing, as well as complete renovations of all bathrooms, kitchen, flooring, and paint throughout, enhancing fit and finish in every room. This historical Craftsman property in the heart of Pico Union District currently stands as an 8-room house with 5 bathrooms and offers substantial rental income potential. Located minutes from USC, Downtown LA, Crypto Arena, and Koreatown, it's perfectly positioned for student housing, short-term renters, or urban professionals. The home also an oversized formal living room and dining room with original historical architecture and high ceilings. The home has central heating throughout and includes plenty of off street parking and a perimeter security fence. With flexible LARD 1.5 zoning, permitted uses of the home include Boarding House, Hotel, Transient Lodgings, and Hostel. However, Investors have the unique advantage of maximizing income potential by also tapping into Los Angeles city programs to fund housing for the homeless in all 8 bedrooms, creating income while positively impacting the community, or develop the property as housing for USC students and other nearby colleges and trade schools. Income potential from multiple sources. This property is ideal for investors seeking stable income and potential future development in one of LA’s most vibrant neighborhoods. Don’t miss out on owning a piece of LA history with high yield​​‌​​​​‌​​‌‌​​‌​​​‌‌​​​‌​​‌‌​​‌‌​​‌‌​​​​ potential!

Nearby schools

3/10
Magnolia Avenue Elementary School
Public,•K-6•0.4mi
3/10
Leo Politi Elementary School
Public,•K-5•0.5mi
2/10
Tenth Street Elementary School
Public,•K-5•0.5mi
4/10
Norwood Street Elementary School
Public,•K-5•0.7mi
8/10
Hoover Street Elementary School
Public,•K-5•0.8mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.8mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•1.1mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.2mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.3mi
3/10
Los Angeles Elementary School
Public,•K-5•1.4mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•1.4mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.8mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•2.2mi
3/10
Berendo Middle School
Public,•6-8•0.7mi
3/10
John H. Liechty Middle School
Public,•6-8•0.9mi
4/10
John Adams Middle School
Public,•6-8•1.7mi
5/10
Pio Pico Middle School
Public,•6-8•2.1mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.6mi
4/10
West Adams Preparatory High School
Public,•9-12•0.6mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.2mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.2mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.2mi
3/10
Belmont Senior High School
Public,•9-12•1.5mi
5/10
Santee Education Complex
Public,•9-12•1.6mi
5/10
Foshay Learning Center
Public,•K-12•2.3mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.1mi

Price History

Date
Event
Price
11/08/25
Price Change
$975,000
05/27/25
Listing
$1,000,000
06/24/24
Sold
$825,000
01/12/18
Sold
$965,000
09/14/16
Sold
$760,000
10/16/14
Sold
$620,000
06/27/13
Sold
$510,000
Condition Rating
Poor
The property, built in 1903, explicitly requires 'complete renovations of all bathrooms, kitchen, flooring, and paint throughout,' along with 'upgrades to plumbing, electrical (where needed), and roofing.' This indicates substantial repairs and rehabilitation are necessary for major systems and key living spaces. While not a tear-down, as renovation plans are approved and it's currently an 8-room house, its current condition is far from move-in ready and necessitates significant investment to meet modern standards. No interior images were provided to assess current aesthetics, but the description confirms the need for extensive work.
Pros & Cons

Pros

High Income Potential & Flexible Zoning: The property offers substantial rental income potential with flexible LARD 1.5 zoning, permitting diverse uses like boarding house, hotel, transient lodgings, and hostel, appealing to various investor strategies including city programs for housing.
Prime Urban Location: Strategically located minutes from USC, Downtown LA, Crypto Arena, and Koreatown, ensuring high demand from students, short-term renters, and urban professionals.
Approved Renovation Plans: Renovation plans, including upgrades to plumbing, electrical, roofing, bathrooms, kitchen, flooring, and paint, have been approved by HPOZ and LADBS, significantly de-risking future modernization efforts.
Historical Charm & Spacious Layout: A historical 1903 Craftsman with original architecture, high ceilings, oversized formal rooms, and a large 8-room, 5-bathroom configuration (4232 sqft) offers unique character and ample space for multi-tenant use.
Valuable Amenities: Parking & Security: Features plenty of off-street parking and a perimeter security fence, which are highly desirable and add significant value in a dense urban environment.

Cons

Aggressive Pricing Relative to Recent Sale: The current list price of $975,000 is significantly higher than its June 2024 sale price of $825,000, potentially indicating an aggressive pricing strategy that may require strong justification to prospective buyers.
Ongoing Maintenance for Historic Property: Despite approved renovation plans, the 1903 construction year suggests potential for ongoing maintenance and unforeseen costs associated with an aging historical structure, even with planned system upgrades.
Lack of Air Conditioning: While central heating is present, the property description does not mention a cooling system, which could be a significant drawback for tenant comfort and rental appeal during Los Angeles's warmer months.

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