11143 Van Buren Ave, Los Angeles, California 90044, Los Angeles, 90044 - bed, bath
ACTIVE$900,000
11143 Van Buren Ave, Los Angeles, California 90044
0Bed
0Bath
2,436Sqft
8,712Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Development Potential: The property is situated on an 8,712 sq ft lot zoned LC R320U*, offering an unlimited density bonus for affordable housing or the potential to build up to 7 ADUs, significantly enhancing future value.
Top Cons:
Age of Property: Built in 1921, the property is over a century old, which may indicate a need for significant capital expenditures for deferred maintenance, system upgrades, and modernization.
Compared to the nearby listings
Price:$900.0K vs avg $787.5K (+$112,500)75%
Size:2,436 sqft vs avg 2,093.5 sqft66%
Price/sqft:$369 vs avg $34556%
More Insights
Built in 1921 (104 years old).
Condition: The property was built in 1921, making it over 100 years old. The listing description explicitly notes its age as a weakness, indicating a need for 'significant capital expenditures for deferred maintenance, system upgrades, and modernization,' and 'high renovation costs.' There are no interior images provided, particularly of kitchens and bathrooms, which for a property of this age, are almost certainly severely outdated and require substantial repairs and rehabilitation to meet current standards. The exterior images show a dated structure with some signs of neglect (e.g., unkempt grass, plywood fence). While it is income-generating, suggesting it is habitable, its condition aligns with requiring substantial repairs and rehabilitation rather than minor updates.
Year Built
1921
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$369
HOA
-
Days on market
-
Sold On
-
MLS number
SB25235775
Home ConditionPoor
Features
Good View:
View-
About this home
Subject property is a 2,436 sq ft 3plex built in 1921 and situated on a spacious 8,712 SF lot. It can be sold separately or together with a 4plex on the adjacent lot at 11137 Van Buren Ave with total rental income of $16,671/month and future development opportunities. (Income for 3plex is $7,133/month). Excellent Unit Mix of All 2-Bedroom, 1-Bathroom Units, All Section 8 Tenants. Total Lot Size: 8,712 sq. ft. Lot Zoned LC R320U* provides Opportunity for Future Development with Unlimited Density Bonus for Affordable Housing OR Potential to build 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
Poor
The property was built in 1921, making it over 100 years old. The listing description explicitly notes its age as a weakness, indicating a need for 'significant capital expenditures for deferred maintenance, system upgrades, and modernization,' and 'high renovation costs.' There are no interior images provided, particularly of kitchens and bathrooms, which for a property of this age, are almost certainly severely outdated and require substantial repairs and rehabilitation to meet current standards. The exterior images show a dated structure with some signs of neglect (e.g., unkempt grass, plywood fence). While it is income-generating, suggesting it is habitable, its condition aligns with requiring substantial repairs and rehabilitation rather than minor updates.
Pros & Cons
Pros
Exceptional Development Potential: The property is situated on an 8,712 sq ft lot zoned LC R320U*, offering an unlimited density bonus for affordable housing or the potential to build up to 7 ADUs, significantly enhancing future value.
Strong Cash Flow: The 3-plex generates a substantial rental income of $7,133/month, providing immediate and attractive cash flow for investors.
Prime Location: Strategically located in a rapidly growing area of Los Angeles, with excellent proximity to major freeways, schools, shopping centers, and public transportation.
Flexible Investment Opportunity: The property can be acquired separately or combined with an adjacent 4-plex, offering versatile options for portfolio expansion and investment strategies.
Desirable Unit Mix: All units are 2-bedroom, 1-bathroom, a highly sought-after configuration that typically ensures consistent tenant demand and occupancy.
Cons
Age of Property: Built in 1921, the property is over a century old, which may indicate a need for significant capital expenditures for deferred maintenance, system upgrades, and modernization.
Section 8 Tenant Dependency: While providing stable income, a tenant base entirely composed of Section 8 tenants can involve specific administrative requirements, regulations, and potential limitations on rent increases.
Potential for High Renovation Costs: To fully capitalize on the development potential or bring the existing units to modern standards, substantial renovation and development costs are likely required.