Property Detail

Description

Stunning Remodeled 1923 Spanish Home with Incredible Income Potential in Lower Hancock Park's Historic Oxford Square! This beautifully renovated corner-lot property sits on a spacious 6,000 sqft lot and offers nearly three homes in one, making it an exceptional investment opportunity. It features a 1,500 sqft 3-bed, 3-bath main house, a 495 sqft detached, permitted ADU, and a separate bonus studio-style suite within the main house, currently generating $9,400/month in short-term rental income. The permitted ADU is a fully self-sufficient rental unit with its own private entrance, patio, parking, and address, creating an excellent income stream. The rear bonus suite inside the main house also includes a kitchenette, bathroom, and private entrance, making it ideal as guest quarters or a third rental opportunity. The home underwent a complete remodel in 2017, including a new roof, plumbing, and electrical wiring, with a permitted addition in 2020. Recent upgrades also include an impressive stucco fence with modern wood inserts. The front yard offers endless landscaping possibilities, while the charming and custom Mexican tilework enhances the home's character. Inside, you'll find an open-concept floorplan with a must-see contemporary kitchen, featuring expansive counter space, an oversized island, stainless steel appliances, and updated lighting. Hardwood floors, recessed lighting, and a large dedicated laundry room complete the thoughtful layout. The bathrooms showcase stunning design elements, adding even more charm to this unique home. This property is a fantastic opportunity for an investment-minded buyer looking to live in the main house while renting out the additional units or enjoying the flexibility of a large single-family home in a peaceful, tree-lined historic neighborhood.