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Lucio Real Estate Group

joe.lucio@exprealty.com +1(805) 512-0065

$798,988

Est. payment - /mo

7,505 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26099376

HOA Y/N No

Year Built 1932

Lot Size 7,505 Sqft

Property Sub-Type Quadruplex

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 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.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Interior

Fireplace No

Laundry Washer Hookup, Inside, See Remarks

Exterior

Parking Features Carport, Door-Multi, Garage, Workshop in Garage

Garage Spaces 2.0

Carport Spaces 1

Garage Description 2.0

Pool None

Community Features Street Lights, Suburban, Sidewalks, Urban

Total Parking Spaces 8

Private Pool No

Building

Lot Description Front Yard, Lawn, Yard

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5188016015

Acceptable Financing Conventional, FHA 203(k), FHA, Fannie Mae, Submit

Listing Terms Conventional, FHA 203(k), FHA, Fannie Mae, Submit

Special Listing Condition Standard, Trust

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Listed by Matthew Silva Silva Real Estate 562-521-8575, DRE #01380645

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Lucio Real Estate Group

Broker Associate | License ID: 01893011

+1(805) 512-0065

joe.lucio@exprealty.com

www.LucioRealEstate.com

1000 Town Center Dr #300, Oxnard, CA, 93036, USA

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926 Spence Los Angeles, CA 90023

Lucio Real Estate Group

Key Details

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Interior

Exterior

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926 Spence