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$798,988
Est. payment /mo
5 Beds
4 Baths
7,504 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26099376
Bedrooms 5
Lot Size 7,504 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
MOVE IN READY, LIVE IN 1, RENT OUT THE OTHERS! 3 Units with 3 bedroom 2 bath home delivered vacant. Rare find so close to downtown LA, where you can live in 1 unit and have 2 more units pay you rent. The 3-bed, 2-bath was never a rental property and sits next to an oversized 2-car garage with workshop, a perfect layout for an ADU. 926 Spence Street is a huge opportunity in Historic East Los Angeles, specifically tailored for investors or houseowners looking to leverage a Trust Sale into a generational wealth-building project. This sprawling 7,500-square-foot lot, zoned for Quadruplex use, is currently used as a 3 compound with a detached oversized garage begging to be converted into an ADU. By acquiring this asset, an investor secures a primary 3-bedroom, 2-bathroom rear residence ($4,000/mo market) in the back, with 2, 1-bedroom units (928 & 930) in front providing immediate, stable cash flow of $2,920/mo from long-term tenants. The "campus-style" layout gives you separation, providing the kind of privacy and outdoor areas increasingly rare in East LA. For property management ease, the units feature separate water heaters, gas meters, and electrical meters, the owner covers trash/water. The oversized garage an immediate footprint for a $2,200/mo ADU conversion, allowing the next owner to stabilize the asset as a four-unit powerhouse with projected annual revenue over $119,000 by Year 3. The "House-Hack" math is staggering: by living in the 3BR unit and applying rental income and the $2,000 monthly tax subsidy (check with your CPA), the net effective mortgage can feel like
Location
State CA
County Los Angeles
Zoning Assessor
Direction S. Whittier Blvd
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 5188016015
Acceptable Financing Conventional, FHA
Listing Terms Conventional, FHA
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Listed by Matthew Silva, DRE#01380645 Silva Real Estate
Nearby School & Business
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