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1137 S Union Avenue, Los Angeles, California 90015, Los Angeles, 90015 - bed, bath

1137 S Union Avenue, Los Angeles, California 90015 home-pic-0
ACTIVE$869,999
1137 S Union Avenue, Los Angeles, California 90015
0Bed
0Bath
2,418Sqft
2,050Lot
Year Built
1905
Close
-
List price
$870K
Original List price
$870K
Price/Sqft
$360
HOA
-
Days on market
-
Sold On
-
MLS number
PW25121004
Home ConditionGood
Features
Good View: Neighborhood
ViewNeighborhood

About this home

We found 3 Cons,5 Pros.

Located near the heart of Los Angeles, 1137 S Union Ave is a gated, two-story 4-unit building with one bedroom and one bathroom in each unit, totaling 2,418 square feet. The property has seen some recent improvements, including new LVP flooring throughout and updated kitchens with gas ranges, granite counters, and modern cabinetry. Each bedroom includes a large closet with sliding doors, and the bathrooms feature a tub/shower combo with tile surrounds and single sink vanities. The upstairs units have balconies with partial views of the city skyline, while the downstairs units enjoy a shared patio area and added security with window bars. This is a solid income-producing property in a high-demand rental area, just minutes from Downtown LA, public transit, and major freeways. With its current condition and location, it offers strong potential for both investors and owner-users!

Price History

Date
Event
Price
06/02/22
Sold
$850,000
01/05/12
Sold
$350,000
05/03/11
Sold
$235,000
05/16/06
Sold
$519,000
11/01/04
Sold
$450,000
Condition Rating
Good
Despite being built in 1905, the property has undergone significant recent interior renovations. The kitchens feature modern cabinetry, granite counters, and new stainless steel gas ranges, while bathrooms boast updated vanities and tile surrounds. New LVP flooring throughout all units contributes to a fresh, move-in ready condition. While the exterior and underlying major systems (plumbing, electrical, roof, foundation) of a 1905 building may still be original or require future attention, the extensive updates to the living spaces make the units highly functional and appealing, aligning with the 'Good' category's criteria for being extensively renovated within 5-15 years and move-in ready.
Pros & Cons

Pros

Robust Income Potential: Explicitly stated as a 'solid income-producing property' in a 'high-demand rental area,' appealing to investors seeking consistent returns.
Strategic Urban Location: Proximity to Downtown LA, public transit, and major freeways enhances tenant desirability, ensures high occupancy rates, and supports property value appreciation.
Modernized Unit Interiors: Recent updates including new LVP flooring and updated kitchens with granite counters and modern cabinetry improve tenant appeal, reduce immediate maintenance needs, and command competitive rents.
Multi-Unit Investment Flexibility: As a 4-unit building, it offers diversified rental income streams and potential for owner-occupancy, catering to various buyer profiles from pure investors to owner-users.
Enhanced Security Features: The property is gated, and downstairs units benefit from added security with window bars, providing a valuable sense of safety and peace of mind for tenants in an urban environment.

Cons

Historic Building Age (1905): While interiors are updated, the age of the building suggests potential for significant future capital expenditures on original infrastructure (e.g., plumbing, electrical, roof, foundation) not explicitly addressed in the description.
Absence of Dedicated Parking: The property description does not mention any dedicated parking, which is a critical and often scarce amenity in Los Angeles, potentially impacting tenant attraction and retention.
Limited Unit Configuration: All units being 1-bedroom, 1-bathroom may restrict the tenant pool and limit potential rental income growth compared to properties offering a wider range of unit sizes.

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