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

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KiKi Freeman

admin@kikifreeman.com +1(323) 396-3918

$ 1,174,995

Est. payment | -/mo

7 Beds

4 Baths

2,654 SqFt

Save

$ 1,174,995

Est. payment | -/mo

Save

7 Beds

4 Baths

2,654 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,654 sqft

Price per Sqft $442

MLS Listing ID 25492999

Bedrooms 7

Year Built 1913

Lot Size 6,752 Sqft

Acres 0.155

Property Sub-Type Multi-Family

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. The back unit, built in 2011, is not subject to LA's rent control ordinance (buyer to verify), providing additional long-term flexibility. Located near Paramount Studios and Hollywood's major employers, this property is an ideal opportunity for investors seeking immediate income with substantial growth potential. Buyers to independently verify all information.

Location

State CA

County Los Angeles

Area Hollywood

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features Attached, Side By Side, Uncovered

Garage Spaces 4.0

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Nicholas Property Group

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(323) 396-3918

admin@kikifreeman.com

2450 Colorado Ave, Santa Monica, California, 90404, USA

971 N Wilton Pl Los Angeles, CA 90038