$ 899,000
-
$899,000
Price -
5
Bed -
4
Bath -
2,990
SqFt
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About the Listing PB15731 - PSILVMAT
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 paying rent. Positioned in a high-velocity development zone near the Arts District and DTLA, this asset offers 100% Bonus Depreciation for a potential Day-1 tax shield. This rare convergence of zoning density, utility efficiency, and massive financial upside is the premier investment in East LA today.
Listing Highlights
Status
Active
Days on Site
13
Property Type
Multi-Family
MLS ®
PW26099376
Year Built
1932
Total Square Footage
2,990
Lot/Acreage
0.17
County
Los Angeles
Area
BOYH - Boyle Heights
Interior Details
- Bedrooms: 5
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Front Yard,Lawn,Yard,No Land Lease
- Garage Capacity: 2 car
- Parking Spaces: 8
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Carport,Door-Multi,Garage,Workshop in Garage
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5188016015
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
926 Spence Los Angeles, CA 90023
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