Premium centrally located home in the HPOZ historic area of Pico-Union, Koreatown, Mid-Wilshire of Los Angeles. This quaint Colonial Cottage has had permitted additions for a once large family. The City of LA-Building & Safety have approved plans to divide the main 4 bed, 2 bath home from the upper 2 bed, 1 bath into 2 separate units w/ their own utility meters. The two units would share the main floor laundry room that leads out to the back yard. This would act as the main entrance for the upper unit. The 2 car garage can be shared between the units, if desired. The driveway is long that can accommodate 4 - 5 cars. The patio area at the rear of the house provides a nice getaway surrounded by lots of greenery from the nice landscape of a well maintained yard. Potential exists to create an upper deck or balcony for upper unit outdoor area. The new owner can live one & the other. With such a central location, the owner can create a very lucrative Airbnb business. The proximity to DTLA, Staples Center, USC, UCLA, Airport, Baseball, Soccer and Football Stadiums, beaches like Santa Monica, Venice, LA Marina and Redondo Beach; Mountains areas such as Big Bear and Lake Arrowhead, Sierra Nevada and San Gabriel Mountains for both winter and summer fun; City life activities in Hollywood, Universal Studios, Warner Brothers Studios, Disneyland, Pacific Coast Highway drives, proximity to LAX, Universities: UCLA, USC, Loyola Marymount, etc and more is HUGE for such a business. Centrality is everything and you won't go wrong with this investment.
Converting permits have been paid & approved. Remaining items for conversion consist of adding gas, water, electrical meters; mailbox and water heater for upstairs. No main building restructure or major alteration required. The house layout provides an easy conversion. Great investment opportunity for the right person/investor.
Performa rents: 4 bed, 2 bath -$4,000; 2/1 - $2,500
Air BnB 2 bed/1 bath $250 per night and/or the downstairs for groups 4 bd/2 bath with rates at $355 or more per night depending on local activities and seasons.