240 Robinson Street #5, Los Angeles, CA 90026 (MLS # 25508593)
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.
Property Type(s):
Single Family
|
Last Updated
|
5/9/2025
|
Year Built
|
1926
|
|
Community
|
Silver Lake - Echo Park
|
County
|
Los Angeles
|
Price History
|
Prior to Mar 10, '25
|
$450,000 |
|
Mar 10, '25 - Mar 15, '25 |
$395,000 |
|
Mar 15, '25 - Mar 28, '25 |
$350,000 |
|
Mar 28, '25 - Apr 7, '25 |
$325,000 |
|
Apr 7, '25 - Apr 8, '25 |
$324,950 |
|
Apr 8, '25 - Apr 20, '25 |
$315,000 |
|
Apr 20, '25 - Apr 30, '25 |
$295,000 |
|
Apr 30, '25 - May 4, '25 |
$250,000 |
| May 4, '25 - Today |
$225,000 |
Additional Details
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Dishwasher, Dryer, Refrigerator, Washer |
| AREA |
Silver Lake - Echo Park |
| GARAGE |
None |
| HEAT |
Wall Furnace |
| HOA DUES |
200 |
| LOT |
6372 sq ft |
| PARKING |
None |
| POOL DESCRIPTION |
None |
| STORIES |
1 |
| STYLE |
Spanish |
| VIEW |
Yes |
| VIEW DESCRIPTION |
City Lights |
| ZONING |
LARD2 |
Location
Listed with LOOM REALTY
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/11/25 9:08 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
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