1324 S Westlake Ave Los Angeles, CA 90006
Pico-Union NeighborhoodEstimated payment $6,554/month
Total Views
3,043
8
Beds
5
Baths
4,232
Sq Ft
$236
Price per Sq Ft
About This Home
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!
Listing Agent
JohnHart Real Estate Brokerage Phone: 818-415-1516 License #01930762 Listed on: 05/27/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,767
Year Built
- Built in 1903
Lot Details
- 8,669 Sq Ft Lot
- No Common Walls
- Density is up to 1 Unit/Acre
Interior Spaces
- 4,232 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 5 Bathrooms
Parking
- Parking Available
- Uncovered Parking
Community Details
- Rent Control
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
Listing and Financial Details
- Legal Lot and Block 11 / B
- Tax Tract Number 224310
- Assessor Parcel Number 5135004002
- $683 per year additional tax assessments
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $13,767 | $1,251,540 | $945,540 | $306,000 |
| 2024 | $13,767 | $1,090,962 | $1,003,965 | $86,997 |
| 2023 | $13,511 | $1,069,572 | $984,280 | $85,292 |
| 2022 | $12,901 | $1,048,601 | $964,981 | $83,620 |
| 2021 | $12,726 | $1,028,041 | $946,060 | $81,981 |
| 2019 | $12,198 | $984,300 | $918,000 | $66,300 |
| 2018 | $9,740 | $775,200 | $581,400 | $193,800 |
| 2016 | $7,907 | $629,455 | $406,100 | $223,355 |
| 2015 | $7,796 | $620,000 | $400,000 | $220,000 |
| 2014 | $6,673 | $512,315 | $316,430 | $195,885 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/27/2025 05/27/25 | For Sale | $1,000,000 | +3.6% | $236 / Sq Ft |
| 01/12/2018 01/12/18 | Sold | $965,000 | -8.1% | $228 / Sq Ft |
| 10/18/2017 10/18/17 | For Sale | $1,050,000 | +69.4% | $248 / Sq Ft |
| 10/16/2014 10/16/14 | Sold | $620,000 | -1.3% | $147 / Sq Ft |
| 07/11/2014 07/11/14 | Pending | -- | -- | -- |
| 07/01/2014 07/01/14 | For Sale | $628,000 | +23.1% | $148 / Sq Ft |
| 06/27/2013 06/27/13 | Sold | $510,000 | -3.8% | $121 / Sq Ft |
| 05/23/2013 05/23/13 | Pending | -- | -- | -- |
| 02/05/2013 02/05/13 | For Sale | $530,000 | -- | $125 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | Monarch Title | |
| Grant Deed | $825,000 | None Listed On Document | |
| Trustee Deed | $803,784 | None Listed On Document | |
| Grant Deed | $965,000 | Lawyers Title Company | |
| Grant Deed | $760,000 | Provident Title | |
| Grant Deed | -- | None Available | |
| Grant Deed | $620,000 | Fidelity National Title Co | |
| Grant Deed | $510,000 | Fatcola | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Interfamily Deed Transfer | -- | None Available | |
| Gift Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,054,500 | Construction | |
| Previous Owner | $701,200 | New Conventional | |
| Previous Owner | $715,000 | Commercial | |
| Previous Owner | $700,000 | Unknown | |
| Previous Owner | $627,000 | Purchase Money Mortgage | |
| Previous Owner | $475,000 | Commercial | |
| Previous Owner | $350,000 | Credit Line Revolving | |
| Previous Owner | $300,000 | Commercial | |
| Previous Owner | $70,000 | Credit Line Revolving |
Source: Public Records
Similar Homes in Los Angeles, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: GD25118136
APN: 5135-004-002
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