Homes for sale - 240 Robinson ST #5, Los Angeles, CA 90026

OPEN HOUSE

Tue May 06, 1:00pm - 3:00pm

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 900 sqft

Price per Sqft $250

MLS Listing ID 25508593

Bedrooms 1

Full Baths 1

Condo Fees $200

Construction Status Updated/Remodeled

HOA Fees $200/mo

HOA Y/N No

Year Built 1926

Lot Size 6,372 Sqft

Property Description

New Co-Ownership Opportunity: Introducing the first and only available unit in the historic 8-unit Robinson Residencesan exceptional all-cash opportunity to own a fully renovated top-floor, corner one-bedroom (900 sq ft) in one of LA's most desirable locations. Priced at just $250,000, this unit represents rare value with comparable 1-bed condos in the area trading for over $500,000. The home has undergone a recent $50,000 renovation, featuring premium stainless steel appliances, designer finishes, and thoughtful upgrades throughout. Currently tenant-occupied at $2,295/month with potential to increase to $2,995/month, the unit delivers strong income from day one: incoming rent of $2,295, HOA of $200, leaving a monthly net of $2,095. The tenant can remain in place, making this a turnkey income property, or vacate at closing, giving you the option to take possession for personal use. Located just minutes from Silver Lake, Echo Park, and Downtown LA, the property is supported by a stable $200/month HOA fee covering common area maintenance and shared utilities. The building is mid-conversion to a TIC (Tenancy in Common), with completion expected in 9 months. Upon conversion, you will receive direct deeded ownership of your specific unit, gain the right to refinance with TIC lenders, and the freedom to sell your unit independently, no LLC approval required. Buyer will be responsible for 1/8th of property taxes, insurance, and shared expenses. This is a clean, secure, below-market entry into Los Angeles real estate with low holding costs, real income, and built-in upside available only to cash buyers. Full FAQ available below and on our website.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LARD2

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Vinyl,Wood

Fireplaces Type None

Furnishings Furnished

Fireplace No

Appliance Dishwasher,Refrigerator,Dryer,Washer

Laundry Inside

Exterior

Parking Features None

Pool None

View Y/N Yes

View City Lights

Private Pool No

Building

Faces South

Story 2

Entry Level One

Architectural Style Spanish

Level or Stories One

New Construction No

Construction Status Updated/Remodeled

Others

Pets Allowed Yes

Senior Community No

Tax ID 5156006005

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Special Listing Condition Standard

Pets Allowed Yes