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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$1,000,000

Est. payment - /mo

7,501 Sqft Lot

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Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-26606

HOA Y/N No

Year Built 1902

Lot Size 7,501 Sqft

Property Sub-Type Single Family Residence

Property Description

Exceptional investment opportunity in a prime Koreatown / Westlake location. The process to convert the home into a duplex plus back unit began in 2019. 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. 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.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR3

Interior

Interior Features Granite Counters, High Ceilings, Walk-In Pantry, Walk-In Closet(s)

Heating None

Cooling Wall/Window Unit(s)

Flooring Laminate

Inclusions Refrigerators, washer, and dryer in upstairs unit; stoves throughout

Fireplace Yes

Appliance Gas Oven, Gas Range, Gas Water Heater, Refrigerator, Water Heater

Laundry Washer Hookup, Gas Dryer Hookup

Exterior

Parking Features Concrete

Fence Chain Link

Pool None

Community Features Urban

Utilities Available Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Composition

Accessibility Safe Emergency Egress from Home, Parking

Total Parking Spaces 7

Private Pool No

Building

Lot Description Sprinklers None

Faces West

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Bungalow

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5136011005

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Notice Of Default, Probate Listing

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Listed by Esther Clauson Keller Williams Los Angeles esther@estherclausonrealestate.com, DRE #02031778

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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

1032 S Westlake AVE Los Angeles, CA 90006

Ernie Caponera

Key Details

Location

Interior

Exterior

Building

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Nearby Locations

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1032 S Westlake AVE