4 days on Rocket
$10,000 Closing Credit¹
#202502720, Adriana Alvarez, Listing Office: Century 21 Jordan-Link
#SR25048083·
Listing Office: Keller Williams Luxury·
Listing Agent: Deborah Moussighi·
Listing Office Phone: 818-585-2758
$988,888 List price
602 W Vernon Ave Los Angeles, CA 90037
$10,000
Closing credit¹
0.2 acres
Multi-Family
Property details
About 602 W Vernon Ave
Development & Investment Opportunity: Fully RTI for 16 Units, Approved for Section 8 Presenting 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
Highlights
Home typeDuplex
StatusActive
Lot size0.1572 Acres
Year built1912
MLS #SR25048083
Summary
- MLS Number: SR25048083
- MLS Name: CRMLS
- Office Name: Keller Williams Luxury
- Office Phone: (818) 585-2758
- Listing Agent: Deborah Moussighi
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/14/2025, 5:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$988,888
602 W Vernon Ave
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 01, 2021 | Home Sold | $755,000 |
| Jul 07, 2003 | Home Sold | $319,500 |
| Sep 26, 1995 | Home Sold | $105,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $785,501 | $9,995 |
| 2023 | $770,100 | $9,812 |
| 2022 | $755,000 | $9,372 |
| 2021 | $419,653 | $5,390 |
| 2020 | $415,351 | $5,235 |
| 2019 | $407,208 | $5,120 |
| 2018 | $399,225 | $5,015 |
| 2017 | $391,398 | $5,015 |
History based on county public records data.
Nearby schools
3
Marguerite Poindexter LaMotte Elementary School
Public District KG-5
0.2 mi
•4410 Orchard Ave
5
West Vernon Avenue Elementary
Public District KG-5
0.3 mi
•4312 S Grand Ave
6
Global Education Academy
Public Charter KG-6
0.3 mi
•4141 S Figueroa St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $24,706. Residents of Los Angeles, CA typically earn less than $<35k each year. Residents typically live in single, no kids family. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
61%
<35k
30%
35k-100k
8%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
38%
Single, No Kids
26%
Single, with Kids
10%
Married, No Kids
26%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
20%
<11 yrs old
10%
12-17 yrs old
29%
18-34 yrs old
35%
35-64 yrs old
6%
65+ yrs old
What do the neighbors do for fun?
Mexican League Soccer
Pro Boxing
Major League Soccer (MLS)
Where do the neighbors shop?
Foot Locker
Ross Dress For Less
H&M
Where do the neighbors go to eat?
Little Caesars
Jack In The Box
Boston Market
What do the neighbors drive?
Dodge
Nissan
Honda
What do the neighbors listen to?
Urban Adult Contemporary
Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
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This home is located at 602 W Vernon Ave in Los Angeles, CA and zip code 90037 in the South LA neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since March 6, 2025 and is currently priced at $988,888.
In February 2025 more than 212 listings in Los Angeles, CA were sold above the asking price. During the same period more than 105 listings were sold at asking price, while more than 280 were sold below. The number of homes for sale in Los Angeles, CA increased by 10.8% between January and February 2025. In February 2025, listings were on the market for 44 days. During the same period, the median list price in this real estate market was $989,396.
From Rocket Homes Real Estate and based on county public records data.