602 West Vernon Avenue 602 West Vernon Avenue Los Angeles, California 90037 United States

Development & Investment Opportunity: Fully RTI for 16 Units, Approved for Section 8Presenting a prime investment and development opportunity with Fully RTI (Ready to Build Immediately) plans for 16 units, consisting of 13 one-bedroom units and 3 two-bedroom units. The property is approved for Section 8, offering significant future rental income potential upon completion.Key Features:RTI for 16 Units: The property is approved and ready for immediate construction, with plans for 13 one-bedroom units and 3 two-bedroom units, creating a strong future rental income stream.Current Income: The existing 6-bed, 3-bath duplex currently generates $5,460 per month in rental income from non-Section 8 tenants, providing reliable cash flow as you move forward with your development plans.Additional Room: An additional room in the duplex is available for rent, further increasing the property's rental income potential.Ellis Act Eligible: The property is eligible for the Ellis Act, offering flexibility for future redevelopment or adjustments to tenant occupancy.This is a rare opportunity for investors to take advantage of a fully RTI property, currently generating rental income with non-Section 8 tenants while offering strong future potential through Section 8 approval. With immediate cash flow and long-term growth possibilities, this property is a solid addition to any portfolio.Please inquire about current expenses on the duplex

Listing Courtesy of Keller Williams Luxury, Email/Phone : 818-585-2758