645 West 97th St is a newer-construction South Los Angeles multifamily triplex offering FHA eligibility, full exemption from local and state rent control, and a vacant 4-bed, 3-bath owner-user unit delivered at close of escrow. Built in 2020, the property is exempt from the City of Los Angeles Rent Stabilization Ordinance and California AB-1482, providing unrestricted rent growth potential, subject to buyer verification.

The vacant front unit qualifies the property for FHA financing when owner-occupied, creating an accessible ownership pathway for buyers seeking to combine primary residence occupancy with supplemental rental income. With no local rent ceiling and modern construction throughout, 645 West 97th St presents a rare opportunity to acquire a low-maintenance triplex with long-term income flexibility.

Unit Configuration, Layout, and Building Design

The property consists of (3) 4-bed, 3-bath units, each averaging approx. 1,600 SF. The oversized floorplans support a wide range of tenant profiles, including larger households and shared living arrangements, a segment that continues to show durable demand across South Los Angeles.

Units are arranged across two separate buildings on a 6,301 SF lot. The front structure contains the vacant owner-user residence, while the rear structure is configured as a duplex. An open parking area separates the buildings, creating unit separation and a more residential feel than a traditional stacked apartment layout. This configuration enhances privacy, simplifies management, and improves tenant experience.

Interior Finishes and Operational Profile

All units at 645 West 97th St are well maintained and reflect modern construction standards. Interior finishes include wood-style vinyl flooring, recessed lighting, central A/C, and in-unit laundry hookups. Kitchens are finished with updated cabinetry, tile backsplash, and generous counterspace, while bathrooms feature contemporary vanities and tilework.

Tenants pay their own utilities, supporting straightforward expense management and operational efficiency. The newer construction profile significantly reduces near-term capital expenditure exposure compared to vintage multifamily assets in the surrounding area.

FHA Eligibility and Owner-User Flexibility

A defining characteristic of 645 West 97th St is its FHA eligibility paired with a vacant front unit delivered at COE. This structure allows an owner-user to occupy a modern 4-bed residence while generating income from two additional 4-bed units on site. For buyers evaluating long-term ownership with minimal management friction, this combination of scale, layout, and financing flexibility is increasingly difficult to find.

Rent Control Exemption and Long-Term Income Growth

Built in 2020, the property is exempt from both city and statewide rent control regulations. This exemption allows ownership to implement annual rent increases without percentage caps, subject to buyer verification, providing a clear path to long-term income growth that is unavailable in most Los Angeles multifamily assets.

Conclusion

645 West 97th St represents a rare South Los Angeles multifamily opportunity combining FHA eligibility, a vacant owner-user residence, and full rent control exemption within a newer-construction triplex. The oversized 4-bed layouts, two-building configuration, modern interiors, and utility reimbursement structure create a clean operational profile with minimal near-term maintenance requirements.

For buyers seeking an owner-user asset with income support, regulatory flexibility, and modern construction in a supply-constrained rental market, 645 West 97th St offers a compelling and durable ownership profile.