1236 W Martin Luther King Jr., Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$1,610,000
1236 W Martin Luther King Jr., Los Angeles, California 90037
0Bed
0Bath
4,658Sqft
6,401Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Investment Location: Strategically located just 1 block from the Los Angeles Memorial Coliseum and 2 blocks from USC, ensuring high tenant demand from students, faculty, and event-goers, and strong potential for appreciation.
Top Cons:
Age of Property: Built in 1921, the property may require significant capital expenditure for system upgrades (plumbing, electrical) and general modernization to meet contemporary tenant expectations and maximize rental income.
Compared to the nearby listings
Price:$1.61M vs avg $965.0K (+$645,000)96%
Size:4,658 sqft vs avg 2,544 sqft96%
Price/sqft:$346 vs avg $35148%
More Insights
Built in 1921 (104 years old).
Condition: This property, built in 1921, shows signs of regular maintenance but has not undergone a comprehensive modern renovation. The kitchens, in particular, are significantly outdated; one features older dark wood cabinets and dated tile countertops/backsplash, while another has painted white cabinets with a dated mosaic backsplash and older tile flooring. Flooring throughout the units is a mix of dated patterned tile, worn carpet, and worn laminate. Light fixtures are generally older styles. While the property appears functional and livable, it requires substantial cosmetic updates and potentially some system upgrades to meet current quality and style standards, aligning with the 'Fair' condition criteria.
Year Built
1921
Close
-
List price
$1.61M
Original List price
$1.7M
Price/Sqft
$346
HOA
-
Days on market
-
Sold On
-
MLS number
DW25127665
Home ConditionFair
Features
View-
About this home
Located in one of the most desirable areas of Los Angeles, this investment property is just 1 block away from the iconic Los Angeles Memorial Coliseum and 2 blocks from the University of Southern California (USC). This property features 4 spacious units, each approximately 1,164 SQFT. Every unit includes 1 bedroom, 1 bathroom, a living room, kitchen, dining area and a private balcony. Each unit is equipped with its own in-unit washer and dryer, and the utilities (gas, electricity) are separately metered, tenants pay their own bills. The property also offers a 2-car garage with hookups for an additional washer and dryer, plus a driveway that can accommodate up to 3 more cars, providing parking for a total of 5 vehicles. Don't miss this amazing opportunity to own an investment property in a prime Los Angeles location.
Condition Rating
Fair
This property, built in 1921, shows signs of regular maintenance but has not undergone a comprehensive modern renovation. The kitchens, in particular, are significantly outdated; one features older dark wood cabinets and dated tile countertops/backsplash, while another has painted white cabinets with a dated mosaic backsplash and older tile flooring. Flooring throughout the units is a mix of dated patterned tile, worn carpet, and worn laminate. Light fixtures are generally older styles. While the property appears functional and livable, it requires substantial cosmetic updates and potentially some system upgrades to meet current quality and style standards, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Prime Investment Location: Strategically located just 1 block from the Los Angeles Memorial Coliseum and 2 blocks from USC, ensuring high tenant demand from students, faculty, and event-goers, and strong potential for appreciation.
Multi-Unit Income Property: As a quadruplex with 4 spacious units, it offers diversified income streams and a robust investment opportunity in a desirable urban market.
Tenant-Friendly & Cost-Efficient Features: Each unit includes an in-unit washer/dryer and separately metered utilities (gas, electricity), making it highly attractive to tenants and reducing landlord operating expenses.
Ample Parking Availability: The property provides significant parking with a 2-car garage and a driveway accommodating 3 additional vehicles, a valuable asset in a dense Los Angeles neighborhood.
Spacious Units with Private Balconies: Each unit is approximately 1,164 SQFT and features a private balcony, offering desirable living space and outdoor amenities for urban tenants.
Cons
Age of Property: Built in 1921, the property may require significant capital expenditure for system upgrades (plumbing, electrical) and general modernization to meet contemporary tenant expectations and maximize rental income.
Limited Unit Configuration: All units are 1 bedroom, 1 bathroom, which may restrict the potential tenant pool primarily to singles or couples, potentially limiting rental income growth compared to properties with multi-bedroom units.
Recent Price Reduction: The listing price has been reduced from $1.699M to $1.61M, which could suggest an initial overvaluation or challenges in attracting offers at the previous price point.