1032 S Westlake Avenue, Los Angeles, CA 90006
List Price: $1.1M
Listing Status: Active
0Days on Market: 6
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1902
Lot Size: 7,502 sq ft
Private Pool: Yes
MLS Number: P1-26606
About This Property
Exceptional investment opportunity in a prime Koreatown / Westlake location. 1032 S Westlake Ave offers versatile multi-unit potential with strong income potential. The property is zoned LAR3 with Transient Lodging use and is located within an R3-1-HPOZ Historic Preservation Overlay Zone, presenting redevelopment and value-add possibilities (buyer to verify). Located just blocks from the Westlake/MacArthur Park station, the surrounding neighborhood offers proximity to popular destinations including USC and Loyola Law School, Crypto Arena and Downtown LA, providing convenient access to major employment hubs throughout Los Angeles near Koreatown. There is ample parking for 7 cars with convenient alley access. With strong potential income, multi unit configuration possibilities, and redevelopment upside, this offering presents a compelling opportunity for investors seeking a centrally located asset, especially with the highly anticipated upcoming sports events of 2028.See floor plan reflecting the following: Upstairs: 3 Bedrooms / 2 Bathrooms Bottom: 2 Bedrooms / 1 Bathroom plus separate 1 bedroom with 1 bathroom Rear: 1 Bedroom / 2 Bathrooms. Per the Special Administrator, permits were initiated to add rooms and convert the home into multi units. Home was previously in the process of being remodeled.