$1,950,000
- Beds
- 5
- sq ft
- 2,451
2536 Military Ave, Los Angeles, CA 90064
2536 Military Ave
Los Angeles, CA 90064
- 7 days on market
WLA Investment Opportunity ---- Investors looking for upside, this property offers value-add potential through rent increases, ADU conversion, and possible redevelopment. Located on a spacious 9,268 SF lot, it is positioned near the new UCLA Research Park and the former Westside Pavilion, prime area undergoing revitalization. The property consists of four units: three one-bedroom, one-bath units, and one two-bedroom, one-bath unit, with two of the units exempt from the Los Angeles Rent Stabilization Ordinance (RSO), allowing for increased rental income potential. One standout feature is the oversized lot, which provides private outdoor space. The property includes four private garages and six additional uncovered parking spaces, offering a unique opportunity for conversion into an Accessory Dwelling Unit (ADU).Though the zoning has been down-zoned to R1, this could appeal to an experienced builder looking to redevelop the lot into a large single-family home with an ADU. The property is located in a desirable neighborhood with lush landscaping, a charming enclosed front patio, and California palm trees. It is conveniently close to the Expo Westwood/Rancho Park station, which provides easy access to downtown LA and Santa Monica. Additionally, the property is adjacent to a cross-city bike path, ideal for cycling enthusiasts. Residents will appreciate the highly rated Westwood Charter Elementary School and other nearby schools, making this a strong choice for family tenants. Overall, this fourplex offers significant upside potential for value-add investors in a high-demand Westside LA location.
Details
Property type
Lot size
9,268 sq ft
Price per sq ft
$796
Year built
1939
HOA
No
Price History
09/12/2024
CLAW #24438905
Listed
$1,950,000
Schools & Community
Neighborhood:
Cheviot Hills
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 09/19/2024 at 9:20 PM
Listing updated: 09/16/2024 at 10:09 PM
Listed by: D. Timothy Byrne, Compass Phone #: (310) 820-0195
MLS: CLAW #24438905
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