240 Robinson St #5 Open House Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90026
OPEN HOUSE
Tue May 06, 1:00pm - 3:00pm
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
Square Footage 900 sqft
Price per Sqft $250
MLS Listing ID 25508593
Style Spanish
Bedrooms 1
Full Baths 1
Construction Status Updated/Remodeled
HOA Fees $200/mo
HOA Y/N No
Year Built 1926
Lot Size 6,372 Sqft
Acres 0.1463
Property Sub-Type Condo
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 Silver Lake - Echo Park
Building/Complex Name Robinson Residence
Zoning LARD2
Rooms
Dining Room 0
Interior
Heating Wall
Cooling Wall/Window, Window Unit(s)
Flooring Vinyl Plank, Vinyl, Hardwood
Fireplaces Type None
Equipment Dishwasher, Range/Oven, Refrigerator, Washer, Dryer
Laundry In Unit, Inside
Exterior
Parking Features None
Pool None
Amenities Available None
Waterfront Description None
View Y/N Yes
View City, City Lights
Building
Story 2
Architectural Style Spanish
Level or Stories One
Construction Status Updated/Remodeled
Others
Special Listing Condition Standard
Pets Allowed Yes