Active

926 Spence

Los Angeles, CA 90023

$798,988 $3,368/Mo

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Overview

Bed

Bath

2,990

Sqft

7,504

Sqft(Lot)

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.

Property Details

Property Type : Residential Income

Price : $798,988

AD Id : 78044949

MLS Id : PW26099376

Beds : 5

Lot Size : 7,504 Sqft

Living Area Size : 2,990

Year Built : 1932

Garage : 2

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Public Sewer

Building Information

Year Built: 1932 Building Area Total: 2,990
Pool Features

None

Laundry Features

Washer Hookup,Inside,See Remarks

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1723
Lot Size Source: Assessor Lot Size Square Feet: 7504

Listing Price Information

Original List Price: 798,988 Listing Contract Date: 2026-04-30
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 5188016015

Garage and Parking

Garage Description: Carport,Door-Multi,Garage,Workshop in Garage

Homeowners Association

Other Property Info

Source Listing Status: Active Source Neighborhood: BOYH - Boyle Heights Directions: S. Whittier Blvd Source Property Type: Residential Income Area: BOYH - Boyle Heights Property SubType: Quadruplex
Building and Construction

Property Age: 94 Common Walls: No Common Walls Structure Type: Quadruplex Year Built Source: Assessor Entry Level: 1 Entry Location: 1 Levels or Stories: One Building Total Stories: 1

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
947 S Sunol Drive, Los Angeles, CA, 90023	$1,249,900	7	6.5	3,536	3,536 SqFt
810 S Record, Los Angeles, CA, 90023	$899,000	6	5	1,855	1,855 SqFt
830 S Record Avenue, Los Angeles, CA, 90023	$828,800	5	4	2,184	2,184 SqFt
715 S Record, Los Angeles, CA, 90023	$799,000	5	2	1,903	1,903 SqFt
3946 E 6th Street, Los Angeles, CA, 90023	$749,000	11	5	3,906	3,906 SqFt
811 S Gage Avenue, Los Angeles, CA, 90023	$939,000	3	3	2,336	2,336 SqFt
1328 S Record Ave, East Los Angeles, CA, 90023	$695,000	4	2	1,359	1,359 SqFt
4045 Dennison Street, Los Angeles, CA, 90023	$1,299,999	9	6	3,649	3,649 SqFt
1231 S Rowan Avenue, Los Angeles, CA, 90023	$1,490,000	6	5	2,863	2,863 SqFt
1031 S Ditman, Los Angeles, CA, 90023	$1,099,000	8	4	2,099	2,099 SqFt

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ByOwner last updated this listing 06/09/2026 @ 17:53

MLS: PW26099376 LISTED BY: Matthew Silva, Silva Real Estate 562-521-8575 SOURCE: CRMLS