$10,000 Closing Credit¹
#IV25071790, ROY KARIMPOUR, Listing office: KR HOMES INC
#SR25126853·
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 #SR25126853
Summary
- Private Pool: No
- List Price: $988,888
- HOA Amount: $0
- Annual Tax Amount: $9,995
- Tax Year: 2024
- Directions: 110 S Exit Vernon Ave. Continue on S Flower St. Right on W Vernon
- Year Built: 1912
- Stories: 1
- Lot Size: 0.1572 Acres
- MLS Number: SR25126853
- 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: 6/21/2025, 9:45:29 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
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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. The majority of Los Angeles, CA residents have income less than $<35k annually. 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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Frequently asked questions
About 602 W Vernon Ave
The listing price of 602 W Vernon Ave property is $988,888.
The property 602 W Vernon Ave is a multi located in Los Angeles, California, 90037.
Active Listing: 602 W Vernon Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 602 W Vernon Ave are: Marguerite Poindexter LaMotte Elementary School (GreatSchools Rating 3/10), West Vernon Avenue Elementary (GreatSchools Rating 5/10), Global Education Academy (GreatSchools Rating 6/10), Isana Himalia Academy (GreatSchools Rating 4/10), Alliance College-Ready Middle Academy 12 (GreatSchools Rating 4/10), Accelerated (GreatSchools Rating 6/10), Manual Arts High School (GreatSchools Rating 3/10), Alliance Patti and Peter Neuwirth Leadership Academy (GreatSchools Rating 8/10), Wallis Annenberg High School (GreatSchools Rating 6/10).
According to the records, the last property tax for 2024 is $9,995 (source: MLS/based on county public records data).
The last sale was on December 1, 2021 for $755,000 (source: MLS/tax record).
The year of construction for 602 W Vernon Ave is 1912.
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 June 6, 2025 and is currently priced at $988,888.
While more than 325 listings in Los Angeles, CA in May 2025 were sold above asking price, there were more than 134 listings sold at asking price, and more than 319 were sold below. The inventory of homes for sale in Los Angeles, CA between April and May 2025 increased by 8.7%. The median list price of listings available in May 2025 was $871,794, while the average time on the real estate market was 34 days.
From Rocket Homes Real Estate and based on county public records data.