11143 Van Buren Ave, Los Angeles, California 90044, Los Angeles, 90044 - bed, bath

11143 Van Buren Ave, Los Angeles, California 90044 home-pic-0
ACTIVE$895,000
11143 Van Buren Ave, Los Angeles, California 90044
0Bed
0Bath
2,436Sqft
8,712Lot
Year Built
1923
Close
-
List price
$895K
Original List price
$1.05M
Price/Sqft
$367
HOA
-
Days on market
-
Sold On
-
MLS number
SB25058449
Home ConditionFair
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $895.0K(75th), sqft - 2436(66th), beds - undefined(50th), baths - undefined(50th).

Subject property is a 2,634 sq ft 3plex built in 1923 and situated on a spacious 8,712 SF lot. It is sold together with a 4plex on the adjacent lot at 11137 Van Buren Ave. This well-maintained 7-unit portfolio consists of a 3-plex and a 4-plex, offering strong current income of $17,037/month and future development opportunities. This investment is Eligible for Both Residential & Commercial Financing…Total Building Size: 6,468 sq. ft. | Total Lot Size: 17,713 sq. ft….Excellent Unit Mix of All 2-Bedroom, 1-Bathroom Units…All Section 8 Tenants – Ensuring Reliable Rental Income, One unit can be delivered vacant at close, ideal for owner-occupants or buyers leveraging VA/FHA loans, with strong potential for rental or resale upside. Lot Zoned LC R320U* provides Opportunity for Future Development with Unlimited Density Bonus for Affordable Housing OR Potential to Add Up to 7 ADUs (Buyer to Verify)…Prime Location – Near Major Freeways, Schools, Shopping Centers, and Public Transportation! Whether you're an investor looking to expand your portfolio or seeking a cash-flowing, high-potential multi-family property, this is a rare opportunity in a rapidly growing area of Los Angeles.

Price History

Date
Event
Price
01/11/17
Sold
$410,000
Condition Rating
Fair

Built in 1923, this property is over 100 years old. While the listing describes it as 'well-maintained' and the exterior images show a functional, albeit dated, appearance, there are no interior photos to assess the condition of kitchens, bathrooms, flooring, or systems directly. Given its age and the absence of any mention of recent extensive renovations, it's highly probable that the interiors, including kitchens and bathrooms, are significantly outdated in terms of style, features, and appliances. The property likely requires minor to moderate updates to meet current aesthetic and functional standards, aligning with the 'Fair' condition criteria for an aged but maintained property with functional but outdated major components.
Pros & Cons

Pros

High & Reliable Income Stream: The property offers a strong current income of $17,037/month, primarily secured by Section 8 tenants, ensuring consistent and reliable rental payments.
Significant Development Potential: Zoned LC R320U* with an unlimited density bonus for affordable housing and potential to add up to 7 ADUs, offering substantial future development opportunities in a growing Los Angeles market.
Large Multi-Unit Portfolio: This offering includes a well-maintained 7-unit portfolio (3-plex and 4-plex) across two adjacent lots, providing scale and diversification for investors.
Strategic Location: Situated in a prime and rapidly growing area of Los Angeles, with excellent proximity to major freeways, schools, shopping centers, and public transportation.
Flexible Financing & Vacancy Option: Eligible for both residential and commercial financing, with one unit deliverable vacant at close, appealing to owner-occupants or buyers leveraging VA/FHA loans and offering immediate rental upside.

Cons

Age of Construction: Built in 1923, the properties may have older infrastructure, systems, and potentially higher maintenance requirements or deferred maintenance issues common with historic buildings.
Data Inconsistencies: Discrepancies exist between the listed square footage/lot size (for the 3-plex) and the combined portfolio details in the description, along with future dates for listing and modification, necessitating thorough buyer verification.
Specialized Tenant Management: While Section 8 tenants provide reliable income, managing a portfolio entirely composed of such tenants can involve specific regulatory compliance, inspection processes, and potentially different tenant management dynamics.

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