Welcome to 523 S Wilton Place, a classic 2-story Craftsman TRIPLEX home located in the ever desirable Hancock Park neighborhood. This spacious 5 bedroom, 4 bathroom residence spans over 3,500 sq ft with bonus spaces on an oversized 8,550 sq ft lot with 2 SEPARATED BUILDINGS, offering a rare opportunity with LAR3 ZONING for potential development or expansion! Classic architectural details, original woodwork, and generous proportions give the home a warm, timeless feel. Whether you're looking to restore its historic beauty or reimagine it as a modern multi-unit investment, the possibilities are endless! Currently the home is entirely an income property, with the front home strategically set up as a co-living space to maximize rents! The separated home in the back consist of 2 units--one 1-bed 1-bath and one studio 1-bath which are both tenant occupied at market rents. Delivered fully occupied, vacant, or partially vacant upon request, this is a rare chance to own a piece of LA history with room to grow. Perfect for investors, or potential homeowners with the option to become a landlord, this home has endless potential and possibilities. Come see it today!