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

1151 Cornwell Street, Los Angeles, California 90033 home-pic-0
ACTIVE$650,000
1151 Cornwell Street, Los Angeles, California 90033
0Bed
0Bath
1,730Sqft
5,184Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Investment & Income Generation: This triplex is explicitly marketed as an 'incredible investment opportunity' offering 'steady income' and 'consistent cash flow' from long-term tenants, providing immediate returns for an investor.
Top Cons:
Rent Control Regulations: The property is 'subject to rent-control regulations,' which can significantly limit an investor's ability to increase rental income and maximize returns, potentially impacting future cash flow growth.

Compared to the nearby listings

Price:$650.0K vs avg $727.5K ($-77,500)38%
Size:1,730 sqft vs avg 1,997 sqft38%
Price/sqft:$376 vs avg $37750%

More Insights

Built in 1925 (100 years old).
Condition: Built in 1925, this triplex is described as 'well-maintained' and 'cared for over the years,' indicating functional condition despite its age. However, the images reveal severely outdated interiors across all units. Kitchens feature older white appliances, laminate countertops, and basic wood-look cabinets, while bathrooms have older vanities, basic fixtures, and dated tile/surrounds. Flooring is a mix of older carpet and linoleum/vinyl. The presence of window AC units suggests a lack of central cooling/heating. While the property appears livable and without significant structural defects, it requires substantial cosmetic and functional updates to meet modern standards, aligning with the 'Fair' category's description of being aged but maintained, with major components functional but outdated.
Year Built
1925
Close
-
List price
$650K
Original List price
$650K
Price/Sqft
$376
HOA
-
Days on market
-
Sold On
-
MLS number
SR25158893
Home ConditionFair
Features
ViewNeighborhood

About this home

This property must be sold with sister building 1153 Cornwell St. Incredible investment opportunity - Triplex in a prime Boyle Heights location. Welcome to 1151 Cornwell St a well-maintained Triplex located in the heart of Los Angeles. Built in 1925, this charming property has been cared for over the years and offers steady income in a highly sought-after rental market. Property to be sold with long-time tenants in place. The property features 3 individual units: UNIT #1: 1-bedroom, 1-bath. UNIT #2: 2-bedroom, 1-bath. UNIT #3: 2-bedroom, 1-bath. With a mix of 1 and 2 bedroom layouts, this versatile triplex appeals to a broad range of renters. Most of the current tenants are long-term and stable, providing consistent cash flow & minimal turnover. The property is subject to rent-control regulations. Just minutes from USC Health Sciences Campus, Keck Hospital of USC, and Los Angeles General Medical Center plus local stores, coffees shops & restaurants. The strong rental demand in this area makes this property a standout choice for investors looking to grow their portfolio. Don't miss out on this income generating opportunity in one of L.A.'s most reliable rental corridors. Whether you're a seasoned investor or looking for your first multi-unit property, this property offers solid upside potential and long-term value. Bonus investment opportunity: The sister building (1153 Cornwell St) is also for sale. Both units are R3 zoning. We are looking to sell both properties together offering a rare chance to own side by side income-generating buildings.

Condition Rating
Fair
Built in 1925, this triplex is described as 'well-maintained' and 'cared for over the years,' indicating functional condition despite its age. However, the images reveal severely outdated interiors across all units. Kitchens feature older white appliances, laminate countertops, and basic wood-look cabinets, while bathrooms have older vanities, basic fixtures, and dated tile/surrounds. Flooring is a mix of older carpet and linoleum/vinyl. The presence of window AC units suggests a lack of central cooling/heating. While the property appears livable and without significant structural defects, it requires substantial cosmetic and functional updates to meet modern standards, aligning with the 'Fair' category's description of being aged but maintained, with major components functional but outdated.
Pros & Cons

Pros

Prime Investment & Income Generation: This triplex is explicitly marketed as an 'incredible investment opportunity' offering 'steady income' and 'consistent cash flow' from long-term tenants, providing immediate returns for an investor.
Strategic Location & High Rental Demand: Located in Boyle Heights, minutes from USC Health Sciences Campus, Keck Hospital, and LA General Medical Center, ensuring a strong and consistent pool of renters in a 'highly sought-after rental market' and 'reliable rental corridor'.
Stable Tenancy & Low Turnover: The presence of 'long-time tenants in place' and 'minimal turnover' provides immediate, reliable cash flow and reduces the typical costs and efforts associated with tenant acquisition and vacancy.
R3 Zoning & Portfolio Expansion: The R3 zoning offers potential for future development or density increases (e.g., ADUs). The mandatory sale with the adjacent sister building (also R3) presents a unique opportunity to acquire two side-by-side income-generating properties, significantly expanding an investor's portfolio.
Versatile Unit Mix: With a mix of 1-bedroom and 2-bedroom units, the property appeals to a broad range of renters, enhancing its occupancy potential and market appeal.

Cons

Rent Control Regulations: The property is 'subject to rent-control regulations,' which can significantly limit an investor's ability to increase rental income and maximize returns, potentially impacting future cash flow growth.
Mandatory Paired Sale: The requirement to purchase this property concurrently with its sister building (1153 Cornwell St) necessitates a larger upfront capital investment and a more complex transaction, potentially narrowing the pool of interested buyers.
Age of Property: Built in 1925, the property is nearly a century old. While described as 'well-maintained,' older buildings often incur higher maintenance costs and may require significant capital expenditures for system upgrades or unforeseen repairs in the future.

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