1324 S Westlake Avenue, Los Angeles, CA 90006

• 4,232 sqft

Property Description

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 Status:

Active

Date Added:

January 13, 2026

Data Last Updated:

May 21, 2026 at 2:17PM

Listing Office:

JohnHart Real Estate : 818-246-1099

Listing Agent:

Marlin Dginguerian : 818-246-1099

MLS ID:

GD26008179

Interior

• Laundry: Inside

Construction

• General: 2

Location

• Originating MLS: CRMLS_CRM
• County: Los Angeles

Lot

• Zoning: 5135004002

Utilities

• Water: Public

Financial

• Source: CRMLS_CRM