Homes for sale - 971 N Wilton Place, Los Angeles, CA 90038

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Danielle Broad

smiles4dee@gmail.com +1(925) 383-9200

$1,174,995

Est. payment - /mo

4 Beds

2,654 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type OTHER

Listing Status Active

Purchase Type For Sale

Square Footage 2,654 sqft

Price per Sqft $442

MLS Listing ID CL25492999

Bedrooms 4

HOA Y/N No

Year Built 1913

Lot Size 6,752 Sqft

Acres 0.16

Property Sub-Type OTHER

Property Description

Rare opportunity to secure a well-maintained Hollywood triplex with immediate upside and strong cash flow potential. Fully stabilized, the property can generate approximately $90,000 per year in gross rental income, yielding an estimated net operating income of $54,000 annually and a projected 4.5% cap rate at the $1.2 million purchase price. Current income totals $4,400 per month from two occupied units: a spacious 3-bedroom, 2-bath unit renting at $2,900/month and a 1-bedroom, 1-bath unit renting at $1,500/month. The third unit, delivered vacant, is a bright 1-bedroom, 1-bath with a private balcony, ready to lease at market rate of approximately $2,500/month, immediately boosting total monthly income to $7,500. Operating expenses are just $3,000 per month ($36,000 annually), supporting strong cash flow and a clear path to increase income by over 50% as existing below-market rents are adjusted over time. Zoned RD1.5XL, the property allows 5 units by right or up to 8 units with TOC Tier 2 bonuses, offering exceptional redevelopment potential in a rapidly transforming neighborhood. A similar property next door was recently redeveloped into 8+ units, highlighting the area's upside for developers. The building has been well maintained and features on-site parking and a private yard.

Location

State CA

County Los Angeles

Zoning LARD

Interior

Heating None

Cooling No Air Conditioning

Fireplace No

Exterior

Total Parking Spaces 4

Building

New Construction No

Others

Tax ID 5536016006

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© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.

Listed by Sonny Shackelford • Nicholas Property Group

+1(925) 383-9200

smiles4dee@gmail.com

971 N Wilton Place Los Angeles, CA 90038