119 E Avenue 36, Los Angeles, California 90031, Los Angeles, 90031 - 0 bed, 0 bath
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Los Angeles, California 90031
This Triplex Residential Income property represents a Strong Value Opportunity, listed at $1,025,000—positioned well below the $1,100,649 Fair Market Value by 6%. This valuation gap offers $75,649 in Instant Equity. Featuring separately metered utilities and three detached units, the property maintains a Condition Rating of 4, indicating a need for cosmetic updates. Its transit-oriented location near the A Line makes this an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage the vacant unit for immediate occupancy.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 119 E Avenue 36 Subject | $979,000* List Price | 0 | 0 | 2,490 | $412 | - |
A 2500 Lincoln Park Ave Active | $999,000 List Price | 0 | 0 | 2,431 | $411 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1956, this property is over 60 years old and shows interiors that are significantly dated. While the listing describes it as 'turnkey' for income, the photos reveal kitchens with worn wood cabinetry, older appliances, and finishes that appear to be 20-30+ years old. The systems are functional and separately metered, but the overall aesthetic and age of the fixtures indicate a need for cosmetic updates and minor repairs to achieve market-rate potential.
The property features three fully detached units with one delivered vacant, providing a rare opportunity for an owner-occupant to secure financing while benefiting from immediate rental income.
All units are individually metered for gas, water, and electricity, which significantly minimizes landlord overhead and simplifies property management.
Located steps from the Heritage Square A Line station and major freeways, the property is perfectly positioned to capitalize on the high demand and rapid appreciation of the Northeast LA market.
With two units currently occupied, the property is subject to Los Angeles rent stabilization ordinances, which may restrict the immediate realization of market-rate rents for the entire portfolio.
Originally built in 1956, the property may require more frequent maintenance or capital expenditures for aging systems compared to the newer residential developments nearby.
Rare opportunity to own three fully detached units on one gated lot, perfectly positioned between Lincoln Heights, Highland Park, and Cypress Park. Two units are tenant-occupied with reliable renters; the third unit will be delivered vacant, ideal for an owner-occupant or to rent at market rate.Each unit features 2 bedrooms, 1 bath, and its own private 1-car garage. All units are separately metered for gas, water, and electricity, with tenants paying their own utilities. The property is fully gated and freshly landscaped, offering excellent curb appeal.Perfectly located steps from the Heritage Square A Line station, providing a direct route to DTLA, Highland Park, and Pasadena, and just moments from Moo's Craft BBQ, Zizou, and the new Barranca Food Hall. Enjoy nearby green spaces like Rio de Los Angeles State Park and the LA River bike path, along with easy access to Dodger Stadium and DTLA via the 5 and 110 freeways.Take advantage of strong appreciation and major development reshaping Lincoln Heights. Barranca Studios and the newly built A34 buildings are bringing strong market rents, new amenities, and fresh energy to the area.Turnkey income, separate utilities, private garages with significant ADU potential, and a vacant unit delivered at closing make this a true Northeast LA find. Don't miss it!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,490 | 2,682 | 38% |
| Lot Size | 7,492 | 7,496.5 | 50% |
| Price | $979.0K | $959.0K | 50% |
| Price per sq ft | $393 | $384 | 50% |
| Built year | 1956 | 1922 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 35 | 184 | 13% |
Jun 5, 2026
$979,000
$1,025,000
-4% Price Drop
Initial Listing
May 12, 2026
$1,025,000
Initial Listing
Jan 26, 2006
$570,000
Public Record