RealKey
‪(213) 433-7766‬

458 W Vernon Avenue, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath

458 W Vernon Avenue, Los Angeles, California 90037 home-pic-0
ACTIVE$1,200,000
458 W Vernon Avenue, Los Angeles, California 90037
0Bed
0Bath
3,726Sqft
5,008Lot
Year Built
1911
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$322
HOA
-
Days on market
-
Sold On
-
MLS number
AR25141126
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(83th), sqft - 3726(74th), beds - undefined(50th), baths - undefined(50th).

Fully renovated 4-unit income property with approved ADU plans near USC and Exposition Park! Rare corner location adjacent to freeway access. All four units have been recently renovated and are occupied with new tenants, making this a turnkey investment opportunity. Zoned LAC2, the property includes approved plans for two additional 3-bedroom, 2-bath ADUs—offering significant upside potential through expansion. There is also an opportunity with the C2 zoning to explore redevelopment. Whether you're a hands-off investor seeking steady income or an active investor looking to add value, this asset checks all the boxes. Located on a high-visibility corner at Vernon and Figueroa with strong foot traffic, immediate freeway access, and excellent transit options. Just steps from USC, BMO Stadium, the LA Memorial Coliseum, and Downtown LA, this property sits in one of the city's fastest-growing neighborhoods. Don’t miss this rare opportunity to invest in both current cash flow and future growth.

Nearby schools

5/10
West Vernon Avenue Elementary School
Public,•K-5•0.1mi
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.4mi
5/10
Menlo Avenue Elementary School
Public,•K-5•0.6mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•0.6mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.6mi
2/10
Main Street Elementary School
Public,•K-5•0.8mi
3/10
Trinity Street Elementary School
Public,•K-5•0.9mi
3/10
Normandie Avenue Elementary School
Public,•K-5•0.9mi
/10
Maple Primary Center
Public,•K-1•1.0mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.6mi
2/10
Western Avenue Elementary School
Public,•K-5•1.6mi
2/10
Forty-Second Street Elementary School
Public,•K-5•2.3mi
3/10
Angeles Mesa Elementary School
Public,•K-5•2.3mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•2.5mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.9mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.1mi
2/10
John Muir Middle School
Public,•6-8•1.3mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.4mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.6mi
1/10
Horace Mann Junior High School
Public,•6-8•2.5mi
2/10
Audubon Middle School
Public,•6-8•2.8mi
3/10
Manual Arts Senior High School
Public,•9-12•0.6mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.3mi
3/10
Nava College Preparatory Academy
Public,•9-12•1.8mi
5/10
Santee Education Complex
Public,•9-12•2.1mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.7mi

Price History

Date
Event
Price
01/11/24
Sold
$1,077,000
11/03/22
Sold
$500,000
Condition Rating
Good
Despite being built in 1911, the property has undergone a recent and full renovation across all units, as stated in the description and evidenced by the fresh paint, new-looking laminate/wood flooring, and clean, updated bathrooms. The bathrooms feature new white tubs/showers and basic but functional vanities. While the renovations make the units move-in ready with no immediate repairs needed, some elements like the basic flush-mount light fixtures and wall-mounted heaters suggest the renovation focused on functionality and aesthetics rather than high-end upgrades or full system overhauls. The property's age also implies potential underlying infrastructure challenges, preventing it from reaching an 'Excellent' score where all components would be virtually new to current quality standards.
Pros & Cons

Pros

Turnkey Income Property: Fully renovated 4-unit property with all units recently occupied by new tenants, offering immediate cash flow and a hassle-free investment.
Significant Development Potential: Approved plans for two additional 3-bedroom, 2-bath ADUs and C2 zoning provide substantial upside for expansion and potential redevelopment.
Prime Urban Location: Strategically located near USC, Exposition Park, BMO Stadium, and the LA Memorial Coliseum in a fast-growing neighborhood, ensuring high rental demand.
Excellent Accessibility & Visibility: Rare corner location with high visibility, immediate freeway access, and strong transit options, enhancing its appeal for both residential and potential commercial uses.
Recent Renovations: All four existing units have been recently renovated, minimizing immediate maintenance costs and attracting quality tenants.

Cons

Age of Property: Built in 1911, the property, despite renovations, may still present underlying infrastructure challenges common with older buildings.
High Traffic & Noise Exposure: Its high-visibility corner location adjacent to freeway access and strong foot traffic could lead to significant noise and privacy concerns for residential tenants.
Complexity of Value-Add Projects: While offering great potential, realizing the full value from ADU construction or C2 redevelopment requires substantial capital, time, and navigating complex regulatory processes.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state