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1151 1153 Cornwell Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath

1151 1153 Cornwell Street, Los Angeles, California 90033 home-pic-0
ACTIVE$1,275,000
1151 1153 Cornwell Street, Los Angeles, California 90033
0Bed
0Bath
3,682Sqft
10,367Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
High Unit Count & Income Potential: Comprising 7 units across two side-by-side buildings, this property offers significant rental income potential and an excellent opportunity for portfolio expansion.
Top Cons:
Rent Control Restrictions: Both properties are subject to Los Angeles rent control, which may limit rental income growth and impose stricter landlord regulations.

Compared to the nearby listings

Price:$1.27M vs avg $902.5K (+$372,500)50%
Size:3,682 sqft vs avg 2,608.5 sqft50%
Price/sqft:$346 vs avg $34650%

More Insights

Built in 1925 (100 years old).
Condition: Built in 1925, this property is nearly a century old. While the description mentions 'well maintained,' the lack of interior photos and explicit renovation details, combined with visible exterior elements like window AC units, strongly suggests that major systems (electrical, plumbing, HVAC) and interior finishes, particularly kitchens and bathrooms, are significantly outdated and likely require substantial repairs and rehabilitation to meet modern standards. The exterior appears to have had some cosmetic updates (paint, some newer windows), but this does not indicate a comprehensive renovation of the entire property or its critical infrastructure.
Year Built
1925
Close
-
List price
$1.27M
Original List price
$1.35M
Price/Sqft
$346
HOA
-
Days on market
-
Sold On
-
MLS number
SR25187546
Home ConditionPoor
Features
ViewNeighborhood

About this home

Looking for 7 UNITS, well you have just stumbled on this unique purchase. Presenting a rare opportunity to acquire two side-by-side income producing sister-buildings in the heart of Boyle Heights. 1151 and 1153 Cornwell St - both being sold together for a total of 7 UNITS. 1151 Cornwell St is a well maintained TRIPLEX offering UNIT#1: 1-bedroom, 1-bath. UNIT#2: 2-bedroom, 1-bathroom. UNIT#3: 2-bedroom, 1-bathroom. 1153 Cornwell St is a 2-story FOURPLEX comprised of four studio-style unit apartments ideal for steady income. These versatile floorplans appeal to a broad range of renters. Some of the current renters have been long-term tenants, and both building will be sold with the tenants in place. Both properties are subject to Los Angeles rent control and are perfectly positioned just minutes from USC Medical Science Campus and Los Angeles General Medical Center - making them highly desirable for tenants in the medical & academic communities. The location also offers convenient access to local amenities including a popular neighborhood coffee shop, mom-and-pop restaurants and mayor freeways. Together, these two sister properties sit on R3 zoning and present an exceptional chance to expand your real estate portfolio with 7 total UNITS, steady rental income, and strong neighborhood appeal. Opportunities like this rarely come to the market. OWN BOTH and maximize your rental income potential. Please note there are 2 APN parcel numbers.

Condition Rating
Poor
Built in 1925, this property is nearly a century old. While the description mentions 'well maintained,' the lack of interior photos and explicit renovation details, combined with visible exterior elements like window AC units, strongly suggests that major systems (electrical, plumbing, HVAC) and interior finishes, particularly kitchens and bathrooms, are significantly outdated and likely require substantial repairs and rehabilitation to meet modern standards. The exterior appears to have had some cosmetic updates (paint, some newer windows), but this does not indicate a comprehensive renovation of the entire property or its critical infrastructure.
Pros & Cons

Pros

High Unit Count & Income Potential: Comprising 7 units across two side-by-side buildings, this property offers significant rental income potential and an excellent opportunity for portfolio expansion.
Strategic Location: Positioned minutes from USC Medical Science Campus and Los Angeles General Medical Center, ensuring strong tenant demand from medical and academic communities.
Established Tenancy: Sold with long-term tenants in place, providing immediate and steady cash flow for the new owner without vacancy periods.
Diverse Unit Mix: The combination of 1-bedroom, 2-bedroom, and studio units appeals to a broad range of renters, enhancing occupancy stability and market reach.
R3 Zoning & Development Potential: Situated on R3 zoned land with a substantial 10,367 sqft lot, offering potential for future development or increased density.

Cons

Rent Control Restrictions: Both properties are subject to Los Angeles rent control, which may limit rental income growth and impose stricter landlord regulations.
Property Age & Potential Maintenance: Built in 1925, the buildings may require significant ongoing maintenance and could have outdated systems, potentially leading to higher operational costs.
Recent Price Reduction: A recent price drop from the original listing indicates potential market resistance or an initial overvaluation, which could affect perceived value.

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