REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,600,000
Est. payment /mo
New
2417 W Vernon AVE Los Angeles, CA 90008
17 Beds
17 Baths
8,128 SqFt
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
Listed by Nabil Awada Matthews Real Estate Investment Services #02046840
Nearby Locations