DUPLEX TO BE DELIVERED VACANT. Welcome to 11421 & 11423 Stanford Ave., Los Angeles, a rare opportunity to own two spacious attached units situated on a LARGE LOT: 8,128 sq. ft. CORNER LOT with a combine LIVING SPACE of 3,132 sq. ft. Each unit has FOUR BEDS & THREE BATHS. Built in 2014, this versatile property offers modern construction, exceptional income potential, and long-term value for both owner-occupants and investors. Each unit features 4 bedrooms and 3 bathrooms with a highly desirable floor plan. A bedroom and full bathroom are conveniently located on the first floor, making it ideal for guests, extended family, or multigenerational living. Upstairs, you'll find three additional bedrooms and two bathrooms. The open-concept design creates a bright and spacious living environment that is perfect for both everyday living and entertaining. The property is in move-in condition and conveniently located in the Green Meadows neighborhood of South Los Angeles, with easy access to the 105, 110, and 710 freeways. Enjoy convenient connectivity to Downtown Los Angeles, LAX, major employment centers, shopping, dining, schools, and entertainment. This is the perfect opportunity for an owner-occupant to live in one unit while generating rental income from the second unit, or for an investor seeking strong cash-flow potential. Each unit also includes its own indoor laundry hookups for added convenience. The expansive backyard offers a blank canvas ready for your vision and creativity. Whether you dream of creating an outdoor entertainment area, a garden retreat, a play space for children, or the perfect setting for family gatherings, celebrations, graduations, and special occasions, the possibilities are endless. This is your opportunity to design and create a truly personalized outdoor oasis. Additional features include a large 2-car garage and ample parking with potential RV parking. Opportunities like this are hard to find; especially with both units being delivered vacant. Don't miss this exceptional opportunity to own a versatile income-producing property in a convenient Los Angeles location. Hurry, this property won't last!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
