2417 W Vernon AVE, Los Angeles, CA 90008
2417 W Vernon AVE, Los Angeles, CA 90008
2417 W Vernon AVE, Los Angeles, CA 90008
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,600,000
Est. payment /mo
17 Beds
17 Baths
8,128 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,128 sqft

Price per Sqft $319

MLS Listing ID 26859147

Bedrooms 17

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1940

Lot Size 0.287 Acres

Property Description

We are pleased to present 2417 W Vernon Ave, a recently renovated 14-unit bungalow court in the highly desirable Leimert Park neighborhood of Los Angeles, offered at an 8.19% cap rate and 7.93 GRM. Built in 1940 and comprehensively renovated, the property pairs upgraded single-story residential units with permitted ADU additions, with Certificates of Occupancy issued in 2024. Leimert Park has become one of LA's most sought-after cultural and residential corridors, giving investors the rare combination of neighborhood momentum and long-term supply constraints, and low-density bungalow court product of this kind can no longer be replicated under current zoning. The result is a turnkey acquisition requiring minimal near-term capital expenditure, with a stable, government-backed income base: 11 of the 14 units are leased under Housing Assistance Payment (HAP) contracts through Section 8, providing consistent, subsidized rental income and reduced vacancy and collection risk. The unit mix includes (12) 1-bed/1-bath units, (1) 2-bed/2-bath ADU, and (1) 3-bed/3-bath ADU, with two 1-bed units delivered vacant for immediate lease-up at market rents. Separately metered for gas and electricity, simplifying management and reducing landlord expenses. Located 0.7 miles from Leimert Park Station on the Metro K Line with convenient access to USC, Exposition Park, Downtown LA, and Culver City. With renovations and ADU additions complete, new ownership can focus directly on maximizing occupancy and income. Buyer to verify all information including square footage, permits, and rent roll.

Location

State CA

County Los Angeles

Area Phht - Park Hills Heights

Zoning LAC2

Interior

Fireplace No

Exterior

Parking Features On Street

Community Features Gated

Building

Story 1

Entry Level One

Architectural Style Bungalow

Level or Stories One

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5022028005

Security Features Gated Community

Special Listing Condition Standard

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Listed by Nabil Awada Matthews Real Estate Investment Services #02046840

NEARBY SCHOOL & BUSINESS

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