Active

508 N Ardmore Avenue

Los Angeles, CA 90004

$1,750,000 $7,378/Mo

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Overview

Bed

Bath

4,103

Sqft

8,250

Sqft(Lot)

Description

"Rare East Hollywood value-add opportunity with immediate operational upside and vacancy leverage at close." All the buyers want: Cash flow NOW Ability to raise NOI FAST Low interest rate leverage Airbnb / furnished rental angle Future appreciation Potential redevelopment (LAR3) 5.5% commercial rates are VERY attractive right now "At today's favorable commercial financing environment, investors have a rare opportunity to leverage immediate upside with strong long-term appreciation potential." 2 VACANT UNITS This is your GOLD. LA multifamily buyers LOVE: Immediate repositioning No eviction headache Instant NOI increase" Two vacant units delivered at close create immediate flexibility for market-rate leasing, furnished rental operations, or owner-user occupancy." "Potential opportunity for f urnished rental or short-term rental strategy (buyer to verify local regulations). "VALUE-ADD STRATEGY investors thinking: "force appreciation."Rental upside Renovation upside Operational upside Market rent gap Example: "Significant upside potential through strategic renovations and rent repositioning."LAR3 = LONG TERM PLAY Investors: LAR3 = future density potential" LAR3 zoning provides long-term redevelopment and densification potential in a rapidly evolving East Hollywood corridor." LOCATION: This property is sitting in: East Hollywood Near Koreatown Near Netflix Near Larchmont Near 101 FWY That's a HUGE renter pool. Positioned: "Located within one of Los Angeles' strongest renter-driven submarkets with proximity to major employment and entertainment hubs."Rare East Hollywood / Koreatown Value-Add Opportunity We are pleased to present 508 N Ardmore Ave, a rare value-add multifamily investment opportunity located in the highly desirable East Hollywood / Koreatown corridor of Los Angeles. The property consists of: One remodeled 3BR/2BA + den single-family residence with private yard Four 2BR/1BA apartment units built in 1987 Approximately 4,103 SF building area on an 8,250 SF LAR3-zoned lot Two units will be delivered vacant at closing, creating immediate flexibility for: Market-rate leasing Furnished rental strategy Potential short-term rental operation (buyer to verify) Owner-user occupancy The property offers strong operational fundamentals including: 5 on-site parking spaces On-site laundry Individual water heaters Security camera system Located just minutes from Larchmont Village, Netflix, Hollywood, Koreatown, Silver Lake, Echo Park, Downtown Los Angeles, and the 101 Freeway, the asset benefits from one of LA's strongest renter-driven submarkets. Investors will appreciate the significant upside potential through: Rent repositioning Strategic renovations Vacancy leverage Long-term redevelopment potential under LAR3 zoning At today's favorable commercial financing environment, this property presents a compelling opportunity to acquire a cash-flowing asset with immediate and long-term upside. BEST FOR:1031 exchange buyers Airbnb/furnished operators Small apartment syndicators, Young owner-users

Property Details

Property Type : Residential Income

Price : $1,750,000

AD Id : 84714418

MLS Id : 26846831

Beds : 11

Lot Size : 8,250 Sqft

Living Area Size : 4,103

Year Built : 1916

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 11

Bathroom Information

Total Baths: 6 Full Baths: 0 Half Baths: 0
Interior Features

Property Appliances: Dishwasher,Disposal,Refrigerator
Cooling Features

Dual Air Conditioning

Heating Source

Combination,Electric Has Heating

Building Information

Year Built: 1916 Building Area Total: 4,103

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1894 Lot Size Dimensions: 53x150
Lot Size Source: Vendor Enhanced Lot Size Square Feet: 8250

Listing Price Information

Original List Price: 1,750,000 Listing Contract Date: 2026-06-12
Lease Information

Listing Agreement: Seller Reserved

Tax Information

Parcel Number: 5520012015

Garage and Parking

Garage Description: Assigned

Homeowners Association

Other Property Info

Source Listing Status: Active Source Neighborhood: C17 - Mid-Wilshire Postal Code Plus 4: 2024 Directions: Adjacent to Hancock Park, South of Melrose Ave. West of Normandie Ave. Zoning: LAR3 Source Property Type: Residential Income Area: C17 - Mid-Wilshire
Building and Construction

Property Age: 110 Year Built Source: Vendor Enhanced Total Square Feet Living: 4103 Levels or Stories: One Building Total Stories: 1

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
542 N Commonwealth, Los Angeles, CA, 90004	$1,675,000	3	3	2,847	2,847 SqFt
432 N Commonwealth, Los Angeles, CA, 90004	$795,000	4	2	1,432	1,432 SqFt
441 N Commonwealth Avenue, Los Angeles, CA, 90004	$850,000	1	1	1,014	1,014 SqFt
447 N Commonwealth Avenue, Los Angeles, CA, 90004	$900,000	3	--	1,798	1,798 SqFt
3812 Middlebury, Los Angeles, CA, 90004	$799,800	3	2	1,240	1,240 SqFt
449 N Virgil, Los Angeles, CA, 90004	$1,299,000	2	2	1,886	1,886 SqFt
3220 W 2nd Street, Los Angeles, CA, 90004	$1,480,000	8	--	7,985	7,985 SqFt
210 S Commonwealth Avenue, Los Angeles, CA, 90004	$3,590,000	24	--	10,884	10,884 SqFt
124 N Westmoreland Avenue, Los Angeles, CA, 90004	$4,350,000	--	--	17,730	17,730 SqFt
118 N Westmoreland Avenue, Los Angeles, CA, 90004	$3,750,000	--	--	18,765	18,765 SqFt

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ByOwner last updated this listing 06/17/2026 @ 07:42

MLS: 26846831 LISTED BY: Max Lee, Real Broker 619-663-8680 SOURCE: CRMLS