926 Spence , Los Angeles, CA 90023
$798,988
Est. Payment: $4,020.38/mo
5 Bed
4 Bath
2990 Sqft
Status: active | Days on site: 86
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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House 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.

Highlights

Listed by Matthew Silva , 562-521-8575 Silva Real Estate , 562-521-8575. CRMLS/Multi-Regional MLS mls logo

Property Type

Multi-Family

Lot/Acreage
0.17

Year Built

1932

County

Los Angeles

Area

BOYH - Boyle Heights

Listing ID

PW26099376

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • Bedrooms:5
  • Bathrooms:4
  • Full Bathrooms:
Other:Public

Exterior Features

Lot:Front Yard,Lawn,Yard,No Land Lease
Garage Capacity:8
Others:2+ Total Units,Has ADU
Sewer:Public Sewer
Parking Features:Carport,Door-Multi,Garage,Workshop in Garage
Principal Interest
$4,020
Taxes
$509

Home Price

$798,988

Loan Details

30 yrs
6.453%

Down Payment

20%
$159,798
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$4,020.38

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,020.38 $509.35 $0.00 $4,529.74
Yearly $48,244.58 $6,112.26 $0.00 $54,356.83
Total $1,447,337.27 $183,367.75 $0.00 $1,630,705.01

Today's Rates

30 Year

6.45%

20 Year

6.33%

15 Year

5.88%

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Market insight data is pulled from the same city as the listing being viewed (Los Angeles, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-08-08T14:37:52.000Z

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