What neighborhood in LA? Everyone has a different opinion on the status of the market in Los Angeles. I believe there will be a slight correction at some point, but Los Angeles as a city has changed a lot and I think property will continue to rise, some neighborhoods more than others. I'm not sure what a four-plex would offer you in LA. The gains in LA are made through leverage gains not cash flow and the exit strategy is much easier on a SFH than a multifamily building. If you purchase a multifamily in a different market with better cash flow it might be a good idea, but I wouldn't do it in Los Angeles. I'd suggest converting your garage into a guesthouse and rent that out so you have two rentals. You'll automatically add value and increase cash flow.
If you need any help with a garage conversion let me know. I run a company that focuses specifically on accessory dwelling units. Otherwise good luck and enjoy the process!
