240 Robinson Street Unit: 5

Listing provided courtesy of: LOOM REALTY

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.

• Features:

  Dishwasher, Refrigerator, Dryer, Washer Wall/Window Unit(s) Vinyl, Wood Carbon Monoxide Detector(s), Smoke Detector(s)

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