1144 W 57th Street, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$1,299,000
1144 W 57th Street, Los Angeles, California 90037
0Bed
0Bath
3,216Sqft
4,558Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Immediate Income & Owner-Occupant Potential: Features a vacant, move-in ready unit alongside three occupied units, providing immediate rental income and flexibility for an owner-occupant.
Top Cons:
Age-Related Maintenance Concerns: Built in 1940, the property, despite recent upgrades, may still incur ongoing maintenance and repair costs associated with an older structure.
Compared to the nearby listings
Price:$1.30M vs avg $965.0K (+$334,000)91%
Size:3,216 sqft vs avg 2,544 sqft65%
Price/sqft:$404 vs avg $35961%
More Insights
Built in 1940 (85 years old).
Condition: Despite being built in 1940, the property has undergone extensive and recent renovations, particularly in the units shown. The vacant unit features a fully updated, modern kitchen with new white shaker cabinets, light countertops, stainless steel appliances, subway tile backsplash, and recessed lighting. The bathroom is also completely renovated with a modern vanity, new fixtures, and subway tile shower surround. New LVP flooring is installed throughout the living areas. Furthermore, significant infrastructure upgrades, including a brand new sewer line and electrical subpanels, contribute to the property's excellent condition, meeting current quality standards with minimal physical depreciation in the renovated areas.
Year Built
1940
Close
-
List price
$1.3M
Original List price
$1.33M
Price/Sqft
$404
HOA
-
Days on market
-
Sold On
-
MLS number
SR25091919
Home ConditionExcellent
Features
View-
About this home
Great FOURPLEX in Los Angeles!! Four units of 2-Bedrooms + 1-Bathroom each. 3 Units are occupied and ONE Unit is VACANT and Move-In Ready!! The building is well maintained and it is secured and gated. Three units are Remodeled! There are 4 secured gated parking spaces on site. Improvements include Brand New SEWER LINE and Electrical Subpanels. The property is located close to schools, park and churches. It is also a walking distance to Supermarket, banks and medical clinics. The building passed the LAHD inspection last year. Great for Investors and owner occupancy as one may qualify for both NACA and FHA Loans!! Ideally located just minutes from USC, Downtown Los Angeles, major freeways, and shopping centers. The property generated good income and is in a very good condition. Buyer to verify any and all information pertaining to the property.
Price History
Date
Event
Price
08/12/99
Sold
$285,000
06/06/23
Sold
$1,157,500
05/10/22
Sold
$661,500
02/20/20
Sold
$560,000
09/09/02
Sold
$281,500
01/08/02
Sold
$306,236
Condition Rating
Excellent
Despite being built in 1940, the property has undergone extensive and recent renovations, particularly in the units shown. The vacant unit features a fully updated, modern kitchen with new white shaker cabinets, light countertops, stainless steel appliances, subway tile backsplash, and recessed lighting. The bathroom is also completely renovated with a modern vanity, new fixtures, and subway tile shower surround. New LVP flooring is installed throughout the living areas. Furthermore, significant infrastructure upgrades, including a brand new sewer line and electrical subpanels, contribute to the property's excellent condition, meeting current quality standards with minimal physical depreciation in the renovated areas.
Pros & Cons
Pros
Immediate Income & Owner-Occupant Potential: Features a vacant, move-in ready unit alongside three occupied units, providing immediate rental income and flexibility for an owner-occupant.
Major System Upgrades: Recent installation of a brand new sewer line and electrical subpanels significantly reduces future capital expenditure risks for critical infrastructure.
Prime Urban Location: Strategically situated near USC, Downtown Los Angeles, major freeways, and essential amenities, enhancing tenant demand and property value.
Well-Maintained & Partially Remodeled: The property is described as well-maintained, secured, gated, and includes three remodeled units, suggesting a good overall condition and reduced immediate renovation needs.
Favorable Financing Eligibility: Qualifies for NACA and FHA loans, broadening the potential buyer pool and making it an attractive option for owner-occupant investors.
Cons
Age-Related Maintenance Concerns: Built in 1940, the property, despite recent upgrades, may still incur ongoing maintenance and repair costs associated with an older structure.
Potential Rent Control Implications: As a multi-unit property in Los Angeles, it is likely subject to local rent control regulations, which could impact future rent growth and investor returns.
Limited Financial Transparency: The description lacks specific details on current rent rolls, lease terms, and the extent of remodels for all units, which are critical for comprehensive investor analysis.